Iberdrola drops out of British Energy auction
Published June 13th, 2008
Spanish energy company Iberdrola, has pulled out of the bidding for British Energy, described as being another blow to the Government’s plan to sell the nuclear power generator.
The Spanish company’s chief executive confirmed the decision at an industry awards ceremony in New York last night.
British Energy said on Monday: “The board will continue to progress the opportunities available, either through an offer for the company or other partnering arrangements which maximise the value of British Energy’s participation in nuclear new build. It expects further discussions with interested parties.” It added that it was possible that no offer for the company may be made.
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