Iberdrola finalizing British Energy bid: reports
LONDON (Reuters) - Spanish energy group Iberdrola (IBE.MC) is putting the finishing touches to a bid for UK nuclear power generator British Energy Group Plc BGY.L and may bid with partners, newspapers reported on Thursday.
British newspaper The Times said Iberdrola, which owns Scottish Power, is expected to put forward an offer before a deadline set for Friday by Rothschild, the investment bank handling the sale.
Nobody at Iberdrola was immediately available to comment.
France's EDF (EDF.PA) also met on Wednesday to give the go-ahead for its bid for British Energy, the Times reported.
The newspaper said both companies are expected to submit initial bids of between 600 pence and 700p a share, valuing British Energy at more than 9.6 billion pounds ($18.8 billion).
The Times quoted sources close to the negotiations as saying Friday was only a preliminary deadline for bidders to provide details of financing arrangements.
In Spain, La Razon newspaper said Iberdrola was sounding out other energy companies including Centrica (CNA.L) about bidding together for British Energy and wanted to go in with at least one partner so it would end up with a minority stake.
(Reporting by Mike Elliott; Editing by David Holmes)
