France’s EDF considering sale of Italy’s Edison – paper

Edison’s logo is seen outside the company headquarters in downtown Milan, Italy, January 14, 2016. Edison, Italy’s No. 2 energy company owned by France’s EDF, is trying to sell part of its Abu Qir field in Egypt and has opened the books to prospective buyers including Kuwait’s KUFPEC, people familiar with the said matter. REUTERS/Stefano Rellandini

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MILAN, Aug 5 (Reuters) – French power company EDF (EDF.PA), which is due to be nationalised, is considering a sale of Italian energy group Edison (EDNn.MI), Milano Finanza (MF) reported on Friday, citing financial sources.

The sale of Edison, Italy’s second-biggest wind player which MF said could be worth around 6 billion euros ($6.14 billion), would help the French group cut debt and help it fund massive investments to fix reactors and build new nuclear reactors.

The paper added that while details had yet to be ironed out, the idea was to kick-off the sale process in the first quarter of next year, once EDF’s nationalization process had been completed.

($1 = 0.9773 euros)

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Reporting by Agnieszka Flak, editing by Federico Maccioni

Our Standards: The Thomson Reuters Trust Principles.

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