=7
British Energy (BGY.L: Quote, Profile, Research, Stock Buzz) shares gained nearly 20 percent on Monday after confirming that it is in discussions with a number of rivals. Indeed, the group said in a formal statement that it was holding talks "with interested parties in the context of its future and its plans to take a pivotal role in any new nuclear programme," adding: "There can be no certainty that any offer will be made." Evolution Securities utility analyst Lakis Athanasiou considers it likely that the government's 35 percent stake in the group will be divided between its new nuclear reactor partners.
DON'T SLASH JOBS, UNION WARNS NORTHERN ROCK
Amicus will on Tuesday argue that Northern Rock NRK.L should avoid resorting to compulsory redundancies. A union spokeswoman said that the bank's management "should be minimising the need for compulsory redundancies," and that "they have been receptive to our arguments so far." Ministers have said that the group will have to slim down to meet EU competition rules. A Treasury spokesman said that it would be at least next month before the group's new board delivers a full business plan.
Prepared for Reuters by Durrants
© Thomson Reuters 2008 All rights reserved
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