Swedish min says Vattenfall grid sale not likely
STOCKHOLM, Nov 11 (Reuters) - Sweden's Enterprise and Energy Minister said on Wednesday a sale of Vattenfall's electricity grid was not on the cards, but confirmed the government had held discussions with the energy giant on the matter.
The issue surfaced a day ago when Vattenfall [VATN.UL] denied a media report that it was about to sell the power group's electricity network in Sweden, saying no decision had been taken.
Enterprise Minister Maud Olofsson told reporters on Wednesday she was unhappy with the way the matter had been handled by the company and the brand had taken a "big blow" following a flurry of speculation about a possible asset sale.
"A sale of the electricity network is not on the cards. There has been a discussion about it with us, but we have said no," Olofsson told reporters.
On Tuesday, Swedish television reported that Vattenfall CEO Lars Josefsson was keen to offload the Swedish grid to free up cash for investments in Britain's nuclear power industry.
The television programme quoted sources and a policy document. It put the value of the network at some 50 billion Swedish crowns ($7.32 billion).
Olofsson said the Swedish energy grid was a vital piece of the country's infrastructure.
"It is important that we have a well functioning network," she said.
