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Friday, August 01, 2008

Feel free to copy, there is no copyright on an Anoneumouse montage. (click on image to enlarge)

Électricité de France (EDF)

Électricité de France (EDF) the 85% French Government owned energy giant has pulled out of a £12bn deal to buy British Energy, hours before it was expected to announced.

In a statement, EDF said that "after in depth discussions, EDF considers that the conditions for a major development in Great Britain are not met to date." The last minute ditching of the offer is likely to hit British Energy shares this morning.

I wonder if it is anything to do with Alistair Darling, the Chancellor of the Exchequer, who is considering imposing a windfall tax on the multi-billion pound profits of energy companies.

Would you invest in the UK only to have a cash strapped government eat at your profits?
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