Two EDF staff shareholder funds warn market watchdog over EDF situation
Reuters
Published Jan 24, 2022 11:01
Updated Jan 24, 2022 11:26
PARIS (Reuters) -The supervisory boards of two EDF (PA:EDF) staff shareholder funds said they had written to the head of France's AMF stock market regulator to warn over the situation at the state-controlled utility, and to get clarification from the government about its plans for EDF.
Shares in EDF slumped as much as 25% on Jan. 17 after the government of President Emmanuel Macron - facing a re-election battle in three months and keen to head off public anger over rising power bills - ordered the utility to sell more cheap nuclear power to rivals.
The French state owns 84% of EDF's shares.
The group forecast last week that the government decision would knock around 8 billion euros ($9.13 billion) off its 2022 core earnings before interest, taxes, depreciation and amortization.
The funds, in the letter, asked the AMF regulator to request that the state - as majority shareholder - clarifies its intentions towards the evolution of its equity stake in EDF and whether or not it could launch a public offer in the coming months.
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Written By: Reuters
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