Electricite de France SA and Constellation Energy Group Inc. are in talks to avoid the collapse of their U.S. nuclear venture, Bloomberg News reported on Friday, citing two people with knowledge of the discussions.
The Baltimore-based Constellation is due by December to decide whether or not to exercise a put option to sell non-nuclear plants to EDF for up to $2 billion -- a move that EDF would view as likely to jeopardize their relationship and a venture to develop new nuclear projects.
The talks began in the past two to three weeks and the companies expect to come to an agreement within the next month, one of the people told Bloomberg.
Constellation spokesman Larry McDonnell declined to comment on the put option with Europe's biggest utility, while Carole Trivi, an EDF spokeswoman, also declined to comment.
Full story at http://www.bloomberg.com/news/2010-09-24/edf-constellation-are-said-to-be-in-talks-on-saving-u-s-nuclear-venture.html
The Baltimore-based Constellation is due by December to decide whether or not to exercise a put option to sell non-nuclear plants to EDF for up to $2 billion -- a move that EDF would view as likely to jeopardize their relationship and a venture to develop new nuclear projects.
The talks began in the past two to three weeks and the companies expect to come to an agreement within the next month, one of the people told Bloomberg.
Constellation spokesman Larry McDonnell declined to comment on the put option with Europe's biggest utility, while Carole Trivi, an EDF spokeswoman, also declined to comment.
Full story at http://www.bloomberg.com/news/2010-09-24/edf-constellation-are-said-to-be-in-talks-on-saving-u-s-nuclear-venture.html
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