French president Francois Hollande will chair a meeting devoted to the future of state-owned utility EDF next week, Les Echos reported on Sunday. “The electricity company, which has an important investment programme in the works, wants to secure financial guarantees from the state,” the newspaper said, adding EDF would hold a board meeting on April 22. EDF had no immediate comment.
Reuters 17th April 2016 read more »
[Machine translation] A board of directors is scheduled on 22 April, following an arbitration meeting attended by the head of state. The week will be decisive for the future of EDF. While the public electrician seeking from the State guarantees its financial trajectory for years to come, an arbitration meeting to be held next week in the presence of François Hollande, “around April 20 “said a source. A board of directors is then scheduled for Friday 22 afternoon to approve the financing plan. Negotiations are continuing, decisions are not taken to date “, said a close case on the eve of the weekend. For EDF, this is to strengthen its balance sheet structure while the group will have to engage in heavy investment program (maintenance of the French nuclear fleet, English Hinkley Point EPR), and while its revenues are under pressure as a result of lower electricity market prices. “EDF is not threatened by short-term liquidity crisis, “it should be recalled within the group.” the subject is to maintain a level of debt to avoid a rating downgrade of the group over two notches. “
Les Echos 17th April 2016 read more »
[Machine translation] As announced in “Les Echos” this morning, the principle of a working meeting on EDF was acquired by the presidency, remained to specify the date. It’s done. François Hollande will chair the Wednesday morning meeting at the Elysee did on Monday. It must endorse its financing plan during a scheduled board on 22 April.
Les Echos 18th April 2016 read more »