Jay Hancock: French press: Constellation has not exercised option

From Jay Hancock's blog:

Constellation Energy Group's board met on Friday, and there was speculation that it would vote to exercise an option to sell fossil-fuel electricity plants to France's EDF Group. The plants are worth $1 billion. The option gives CEG the right to sell for $2 billion. Naturally the French really really don't want CEG to pull the trigger. But CEG seems not to have yet exercised its "put." If the board had acted one would have expected an announcement on Friday. And the French press is reporting that Baltimore-based CEG has not yet moved on the option.

From Enviro2B: "NUCLEAIRE РConstellation n'a pas (encore) lev̩ l'option

Dans le conflit qui l'oppose à son partenaire américain, EDF a gagné du temps. Sur la demande express de l'électricien français, Constellation n'a finalement pas décidé pour l'heure de lever l'option lui permettant de se faire racheter à prix d'or 11 de ses centrales thermiques américaines, pour 2 milliards d'euros."

jay.hancock@baltsun.com

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