British nuclear group British Energy announced on Friday it received several offers, contradicting the British press who said French energy group EDF's bid was the only one. Spain's Iberdrola and Germany's RWE are also interested.
The stock was up 5.6 percent at 718 pence per share by 0802 GMT, valuing it around 11.4 billion pounds ($22.19 billion) including the
British Energy said on Friday it had received a range of proposals from several parties wishing to make a full offer for the company including the Nuclear Liabilities Fund, which represents the government stake.
The company operates eight nuclear power stations and is the key player in a government drive towards more nuclear power to solve a predicted electricity supply shortfall.
Its shares had declined 13 percent before Friday from a 785p all-time high on April 25 as hopes of a bidding war at a significant premium to its share price faded.
"The weakness in the price has been because people thought it would only be EDF (that made a bid)," said analyst Lakis Athanasiou at broker Evolution Securities.
"The key today is there are a number of players," he said.
The process of evaluating the proposals is likely to take a number of weeks, British Energy said.
"It is clear that the press speculation that only EDF had made a bid, with some reports putting the bid as low as 650p, was misleading and contributed to price weakness in recent days," Athanasiou said.
Centrica made an all-share indicative offer at under 700p/share, a source told Reuters last week.
"The board has reviewed the proposals and has decided that discussions should continue with all the parties concerned," said British Energy.
Date created : 2008-05-16