EDF shares rise after French PM says state will nationalise company
Thursday, 7 July 2022
PARIS, July 6 (Reuters): Shares in French power group EDF spiked by as much as 8% on Wednesday after French Prime Minister Elisabeth Borne told parliament the state aimed to fully nationalise the debt-laden utility in which it already holds over 80%.
EDF shares traded 5.1% higher at 1344 GMT.
Earlier, The French government plans to fully nationalise EDF, Prime Minister Elisabeth Borne announced on Wednesday, sending shares in the debt-laden power utility sharply higher.
"I confirm to you today that the state intends to control 100% of EDF's capital", Borne said in her policy speech in the lower house of parliament as she set out her minority's government priorities.