Thursday, April 10, 2008

British Energy Hits 20-Month High on the LSE

British Energy Group (BGY) rose 38 pence (.75 USD) or 5.4 percent on the London Stock Exchange in trading Thursday. The jump occurred after reports that RWE, Germany's second-biggest utility, had made an £11 bn (21.7 bn USD) offer for BGY.

From Bloomberg,

"British Energy is clearly in play," said Edward Collins, a London-based fund manager at New Star Asset Management Group Plc. He helps manage $41 billion of investments including British Energy shares. "New nuclear is absolutely essential. British Energy has an unrivaled strategic position."

1 comment:

Starvid said...

Why anyone would like to own those horrible little gas cooled reactors is beyond me. The Brits should have done what the French did, and chosen American tech.

The prospective buyers are paying terribly much for access to those reactor sites.