France eyes autumn for EDF capital listing

24th March 2005, Comments 0 comments

MONTEZIC, France, March 24 (AFP) - France could open the capital in its energy group Electricite de France (EDF) toward the end of the year if market conditions are favorable, Finance Minister Thierry Breton said Thursday.

MONTEZIC, France, March 24 (AFP) - France could open the capital in its energy group Electricite de France (EDF) toward the end of the year if market conditions are favorable, Finance Minister Thierry Breton said Thursday.

"We will try to see if ... we can prepare to open the capital which could take place in the autumn" in the northern hemisphere, Breton told media during a visit to this town in south-central France.

"This kind of operation requires not only a mobilisation of the company but (also) a good preparation of the financial markets."

On Thursday, EDF chief executive Pierre Gadonneix said the group's partial privatisation could take place from October, market conditions permitting.

The group plans a capital increase of between EUR 8-11 billion (USD 10-14 billion), he confirmed.

© AFP

Subject: French News

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