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The French government is considering reviving an ambitious plan to nationalize the debt-ridden French energy giant EDF and reorganize certain activities. This is reported by the financial news agency Bloomberg on Friday.
The chaos in the energy market, exacerbated by Russia’s invasion of Ukraine, is giving new impetus to France’s efforts to restructure the country’s top energy supplier. Cautious discussions have already taken place with potential advisers regarding the plan to buy back the shares of EDF’s minority shareholders and delist the company, according to informed sources.
The French giant might possibly sell interests in certain holdings abroad. This would provide the necessary financial resources to finance the company’s main nuclear and hydroelectric activities in its country. Another possibility is to attract investors to EDF’s wind and solar activities to help finance green projects.
According to Bloomberg, the discussions are still at a preliminary stage and there is absolutely no certainty that the government will go through with it. A spokesman for the French finance ministry has since called the information “false” and denied that the government is working on such a project. On the EDF side, no one wanted to comment.
