PARIS (Reuters) - French power group EDF (EDF.PA) is part of a consortium that approached Total (TOTF.PA) with a view to buying its gas network and storage business TIGF, French daily Les Echos said on Monday.
The consortium, in which EDF has a minority stake, submitted a letter of intent for TIGF, which is valued at 2-3 billion euros ($2.5-$3.8 billion), the paper said, without citing its sources.
EDF declined to comment and Total could not be immediately reached for comment.
Bidders interested in Total’s TIGF had until November 16 to approach France’s biggest oil company, two people familiar with the situation told Reuters last month.
The sale is part of Total’s larger plan to shed 15 billion to 20 billion euros worth of non-core assets by 2014. ($1 = 0.7871 euros) (Reporting by Dominique Vidalon, Alexandre Boksenbaum-Granier and Cyril Altmeyer)