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France to pay 9.7 billion euros to take full control of EDF

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Reuters UK

PARIS (Reuters) -The French government is offering 12 euros per share to take full control of EDF , Europe’s biggest nuclear power operator, in a 9.7 billion euros ($9.85 billion) buyout offer that gives it a free hand to run the group as it contends with a European energy crisis. The finance ministry said in a statement the price represented a 53% premium to the closing price of EDF shares on July 5, the day before the government announced its intention to fully nationalise the group. The state already owns 84% of EDF, which has been grappling with unplanned outages at its nuclear fleet, dela…

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