EdF privatisation programme announced

26 October 2005

One of Europe’s largest energy players is set to be partially privatised following an announcement from the French government regarding Electricité de France (EdF).

Some 15% of the state-owned energy giant, is expected to be floated on the French stock exchange by 21 November, although the government will retain an 85% holding.

The move still commits EdF to lowering some prices, but also to improving rural service levels, as well as investing $48 billion over the next five years.

Trade unions and the Socialist Party opposition have condemned the move, branding it a huge and costly mistake.

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