Is International Power on the shopping list of GDF Suez
French utility giant GDF Suez is said to be in talks with leading UK power provider International Power in what could turn out to be a very difficult situation for the UK government. While no formal bid has been forthcoming as yet it is believed that the French authorities, who hold a 35% stake in the giant French utility company, have given the go-ahead for a bid for International Power. But how will the UK government react to this?
Over the last few weeks Lord Mandelson has been more prominent on the international scene suggesting that UK companies need to be protected from overseas predators. The situation regarding GDF Suez and International Power is one which could seriously backfire on the UK government because GDF Suez is effectively protected by the French authorities but no such protection is available for International Power.
As we saw in the gas market just last week, the UK government has lost control of UK utility companies and we are now at the beck and call of foreign giants who do not perhaps have the best interests of the UK at heart. While the stock market is likely to mark International Power shares higher in early trading tomorrow, and investors will be looking for confirmation of a bid for the company, this saga could turn into a stick of political dynamite!
Share this..
Related stories
Npower fined £1.8 million over the doorstep selling tactics
Those in the UK who have had the pleasure of a visit from doorstep energy supply salespeople will this evening appreciate a £1.8 million fine which is being charged against UK leader Npower. The company is charged with not taking swift action after a number of customers complained about the tactics which were being used by doorstep sellers. This has been a problem in the UK energy market for some...
Read MoreCar insurance cost falls, and ministers target whiplash fraud
The cost of insuring your car has fallen at the fastest rate in the last 20 years, as an average of £80 was saved per policy over the last 12 months. The news comes as ministers announce plans to reduce the cost of motoring, focusing on bringing down the amount of fraudulent whiplash claims, which result in higher premiums for everyone. The fall in motor insurance, announced by the AA Brit...
Read MoreBovis Homes releases good news for about the UK property market
Prominent UK housebuilder Bovis Homes has today issued first half figures for 2009 which are on the whole fairly irrelevant at this point in the cycle, but the statement which accompanied the results claims that the UK housing market is starting to stabilise. As a consequence we saw Bovis Homes shares rise to an 18 month high with hopes that we have seen the worst for the UK housing sector and dem...
Read MoreBBA sends MPs finances guide
Britain's MPs are to receive an education in personal finances from the British Bankers' Association (BBA).Packs containing basic information on money matters, including guidance on price comparison websites, have been sent out to politicians.The BBA hopes that this will lead to MPs being better equipped to answer constituents' financial worries in weekly surgeries.Mark Lazarowicz MP, who contribu...
Read More