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Is Centrica Set To Offer The Government Cash For Their British Energy Stake?

While the UK government has been at the centre of plans to resurrect the British Energy / EDF takeover, with £4 billion expected for its stake, it seems as though Centrica may have an answer. There are strong rumours in the market that the group is willing to offer the government around £4 billion in cash for their stake and use this as a springboard for a full all share takeover. But will this work?

While there are strict rules and regulations with regards to the stake Centrica could acquire and how they would be able to treat the government and other shareholders, there may be a way to keep all parties happy. It seems as though many investors were unhappy with the EDF cash offer and may be a little more welcoming of a share in the future of the enlarged group.

However, for the move to stand any chance of being successful Centrica needs to get the UK government on side and fight for a place at the negotiating table. Whether such a move would bring EDF back into the frame or flush out another bidder remains to be seen but it looks as though British Energy's days of independence are numbered.

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