Firms swoop on British Energy

THREE companies were today expected to table a takeover bid for British Energy in a move the Government hopes will rejuvenate the development of nuclear power stations.

French utility firm EDF, German power generator RWE and Spanish energy group Iberdrola are all interested in Torness Power Station owner British Energy.

EDF was said to be finalising details of an all-cash bid between £9.2 billion and £10.2bn. Ibedrola, the owner of ScottishPower, has put the finishing touches on its offer for the company.