February 14, 2013 / 10:26 AM / in 5 years

EDF says Alpiq likely not long-term investment

PARIS, Feb 14 (Reuters) - French utility EDF’s 25 percent stake in Swiss unit Alpiq is probably not a long-term investment, EDF Chief Executive Henri Proglio said on Thursday.

“In general, we do not want to be minority shareholders, we like to control our own destiny,” Proglio told reporters after the company’s 2012 results presentation.

Asked whether EDF’s stake was a long-term investment, Proglio said: “Probably not”.

Alpiq, which has a market value of $3.2 billion, was established in 2009 by a merger between two Swiss utilities and the Swiss operations of EDF.

With annual power generation of approximately 20 billion kWh it provides roughly one-third of Swiss energy needs. (Reporting by Geert De Clercq; Editing by James Regan)

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