A2A's Zuccoli: Board To Restart Edison Talks With EdF
July 18 2011 - 10:54AM
Dow Jones News
A2A SpA (A2A.MI) approved the resumption of talks with
Electricite de France SA (EDF.FR) over control of Edison SpA
(EDN.MI), said a top official of the Italian municipal utility
Monday, adding he would like an earlier accord to be revised.
A2A's management board decided unanimously to officially approve
resuming talks with EdF about Edison "based on what was discussed
in earlier months," said Giuliano Zuccoli, chairman of the board,
after a meeting in Milan.
In March, A2A and EdF preliminarily agreed to split the assets
of power generator Edipower SpA, which is controlled by Edison,
with the Italians receiving hydroelectric plants in exchange for
letting the French run Edison. Currently A2A and EdF jointly run
Edison, Italy's second-largest power and natural gas company.
A2A will work on improving the deal in the municipal utility's
favor after the nuclear accident in Japan has made gas-fired
generators more valuable, Zuccoli told reporters.
"We will test the availability of our [French] partners on
this," added Zuccoli.
The two companies have set a Sept. 15 deadline to reach a final
agreement.
-By Oscar Bodini, MF-DJ, and Liam Moloney, Dow Jones Newswires;
+39 06 6976 6924; liam.moloney@dowjones.com
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