France faces tough choices on Areva T&D sale | Deals | Reuters - 0 views
-
France may have painted itself into a corner by pushing state-owned nuclear power group Areva to sell its most profitable unit, and could end up weakening the very domestic industries it is trying to champion. The government, which owns 93 percent of Areva, must choose between three bids for the Areva's electricity transmission & distribution (T&D) business -- from GE, Toshiba, and a French consortium of Alstom and Schneider Electric -- each of which potentially hurts French economic interests in different ways. Should the government choose GE or Toshiba for the business, valued at 4 to 5 billion euros ($5.9-7.4 billion), it would in either case end up strengthening a company that competes with Areva in its core nuclear segment.
-
France may have painted itself into a corner by pushing state-owned nuclear power group Areva to sell its most profitable unit, and could end up weakening the very domestic industries it is trying to champion. The government, which owns 93 percent of Areva, must choose between three bids for the Areva's electricity transmission & distribution (T&D) business -- from GE, Toshiba, and a French consortium of Alstom and Schneider Electric -- each of which potentially hurts French economic interests in different ways. Should the government choose GE or Toshiba for the business, valued at 4 to 5 billion euros ($5.9-7.4 billion), it would in either case end up strengthening a company that competes with Areva in its core nuclear segment.