British Energy Share Discussion Threads

[pc4900074200] 21/9/2009 11:37

Monday September 21, 11:07 AM
EDF to sell 20% stake in British Energy: report

PARIS (AFP) - French utility EDF (Paris: FR0010242511 - news) plans to sell another 20 percent stake in nuclear power operator British Energy (LSE: BGY.L - news) as part of a 4.53 billion pounds asset sale, a report said on Monday.

The economic news daily La Tribune said the sale would also help meet EU conditions set in 2008 when Brussels cleared EDF's acquisition of British Energy.

Such a sale would also mean that EDF would no longer need to sell part of its RTE transport operations, which could have proved problematic with unions and on the political front, La Tribune said in an unsourced report.

When asked about the report, an EDF spokeswoman said the issue was not being actively discussed at this point.

EDF acquired British Energy in September 2008 for 13.60 billion pounds and subsequently sold a 20-percent stake in the company to power group Centrica (LSE: CNA.L - news) for 2.26 billion.

EDF said after the Centrica deal that it planned further asset sales worth about five billion euros in order to reduce its debt burden of 22.22 billion pounds.

pc

[zangdook] 19/3/2009 08:16

If anyone wound up with Nuclear Power Notes (Contingent Value Rights, whatever) I've started a thread for them. No price info, but news comes through and there's a link to their PLUS page.

[pc4900074200] 02/12/2008 09:26

For those that are late sending in certs?

The post code on the pre-paid envelope is different
from the address post code in the document.

Which one to use?

Too late for me, sent mine off before noticing the difference
just hope it gets there?

pc

[daveram13] 13/11/2008 23:27

The offer is only 9p more than the one that British Energy rejected in July.

An interesting feature of the bid is the option to receive £7 in cash plus one 'nuclear power note', the idea being that investors can retain some exposure to wholesale power prices. It is expected that the notes will be traded on Plus and will pay dividends linked to wholesale power prices over the next decade. Whether this is a worthwhile option for private investors depends on what happens to wholesale power prices.

Any views?

[bobp] 07/11/2008 20:49

Anyone know the final date?
There's 3% to be had but don't want to pile in if things are not going to happen for several months
Dav, correct by the way.

[daveram13] 06/11/2008 15:28

Option 1: For every ordinary share in British Energy Group – £7.74 in cash

Option 2: : For every ordinary share in British Energy Group – £7 in cash plus Partial CVR Alternative of one £0.74 nominal Nuclear Power Contingent Value Right Instruments (CVR) in lieu of £0.74 cash due under the offer will also be available

Any comments?

[hightech] 24/10/2008 10:16

this hasnot falen at all.
The market is fooled

[mirex] 10/10/2008 12:52

Quite simply, this has been oversold as there's so much money to be made elsewhere.

Itsnobigdeal: Bid not in danger due to state of any part of BGY, bid in danger due to the fact that ALL global markets are in meltdown (pun intended!) Shareholders will be consulted eventually, i woudl have thought it may drag out until next year and this whole process could drag on well into Summer'09. Thats the main problem, the share price may continue to slip as who wants to hold on to shares for months for a small % profit when (like myself) you cuold be in and out of HBOS/LLOY/RBS for 100% profit intraday!? 3rd alternative: won't happen.

[sat69] 09/10/2008 16:31

Can't quite work this out - is the market now believing the bid may not go through?

[speedy] 09/10/2008 09:09

Just for the record, BGY dipped to 711.5 today. Go figure???

[itsnobigdeal] 06/10/2008 00:34

MireX

Thank you very much for the information/views you have recently given us on this board. Could I please trouble you a little further.

a) do you think that there is any danger that the very poor state of our nuclear power stations (see headline of yesterday's Independent on Sunday)might endanger the bid?

b) I have been grappling with the third alternative in the bid and am a bit puzzled. Could you please let me know what this is worth per share at current prices. and

c) When do you expect the formal bid to be posted to shareholders?

Thank you

[lfdkmp] 03/10/2008 07:54

BobP

Thanks for the reply.

[bobp] 02/10/2008 14:27

LFDKMP,
There is no generic answer.
Usually you'll get a message sent to you via your broker telling you the options etc, but its a bit too early.
If I were you I would ping BGYs Investor Relations an email and ask. Then keep the email reply. If you ring and get duff gen its hard to argue later. Good luck!

[lfdkmp] 01/10/2008 12:54

Apologies if this has been asked before. I'm a warrant holder. If the proposed takeover is to go through, do I need to do anything?. I don't want to find that the warrants have lapsed and I'm holding worthless bits of paper.

[speedy] 30/9/2008 06:56

I'm still holding BGY and RBS. RBS is more interesting but quite a white knuckle ride. I keep hoping it will become more like BGY, but it still surprises.

[bobp] 29/9/2008 23:15

Wish I'd bought back into this instead of RBS today!

[grcs4] 29/9/2008 09:47

My understanding (from the press etc) is that all the major players were on-side before the announcement last week. Anyway, 5% is pretty low, once EDF get the Govs shares (done deal) and on top of what they already possess, and will possess, I don't think there will be a problem as far as % ownership is concerned. Regulator? I thing the Government will be in there making sure any hurdles are overcome.
Not for advice, just my thoughts as I sit looking at a sea of red, except BGY.
Regards

[speedy] 29/9/2008 06:54

Hmmm ... potentially the alternative bid values BGY at up to 700p + 500+p
so why isn't M&G loading up with the shares and pushing the price higher?

[bobp] 29/9/2008 06:43

One of British Energy's biggest investors has so far declined to sell its stake to EdF, believing that the French company's £12.5bn takeover bid may yet fail regulatory hurdles. M&G, which owns 5% of the UK nuclear power generator and helped block EdF's original offer, argues that the revised bid significantly undervalues British Energy, reports the Telegraph.
( 29th Sept )

[grcs4] 26/9/2008 13:59

MireX
I would tend to agree. I sold on Wednesday at 7.72 thinking that was it.
Yesterday I watched the price fall and bought at 7.63 thinking, yes, why not, a profit is a profit. Hmmmmm .... now watching it fall to 7.55 or so!
Perplexed. Might buy more though.
Good trading, whatever you decide.
Regards

[mirex] 26/9/2008 13:22

All that aside, is 755p a good buy considering they are worth an almost sure 774p?

Hmmm. small profit but little risk!?

[malkie] 25/9/2008 10:10

JOIN "KILL THE SPREAD" CAMPAIGN FOR A MORE EFFICIENT AIM SMALL CAP MARKET WITH DIRECT MARKET ACCESS.




Over One thousand people have signed our on-line petition and voted in the Poll!!
If you haven't yet done so join us now!!!




If you want tighter spreads on small cap AIM stocks and Direct Market Access, and small cap auctions - then join the campaign!

To be presented to the CEO of the LSE Clara Furse.
The campaign is gaining momentum and the press are now picking up on it.....









Market makers should not be traders as well as there is a clear conflict of interests.

Someone took 20p for 135k GEM when the bid was 26p - over a barrel with Market Makers the only game in town.

On 10th September 450k SOLG sold at 1p when the bid was 3p.
Same stock sold back into the market over next few days for 2.5p-3p

Market Maker system leaves a lot ot be desired. This isn't "making an orderly market", it is profiteering.




and please spread the word!

[speedy] 25/9/2008 10:09

Corporate? obviously of no relevance to investors then ;-)
PS thanks for that!

[harkishan] 25/9/2008 09:30

then follow the corporate update for 24/09/2008