French presidency backs EDF-Areva tie-up

The French presidency on Wednesday gave its backing to a tie-up between state-owned electricity group EDF and Areva’s reactor-building unit, adding that the government would spend “as much as necessary” to recapitalise the troubled nuclear group. The Elysee said EDF was set to become “a majority shareholder” in Areva’s reactor activity, in what could signal a considerable restructuring of the nation’s energy sector. “From now on, the activities of design, project management and marketing of the new EDF and Areva reactors will be brought together in one dedicated company,” the statement read.

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