China, EDF May Sign Deal on U.K. Reactor Stakes, Daily Says

Chinese nuclear companies may sign an agreement in October with Electricite de France SA to specify their stakes and roles in a $2.6 billion U.K. nuclear investment as they seek more control, the China Daily reported.

China National Nuclear Corp. and China General Nuclear Power Corp. are studying the possibility of holding a controlling stake in the two-reactor project totaling 3.2 gigawatts in Somerset, southwest England, the report said, citing an unidentified person from CNNC.

The two Chinese companies may hold more than 30 percent in the plant, while EDF and Areva SA (AREVA) of France would hold smaller individual stakes, the Daily said, citing CGNPC.

Several calls to CGNPC spokesman Liu Kaixin and CNNC spokesman Pan Jianming weren’t immediately returned.

The project was delayed when the European Commission started a probe into possible financial support violations by the U.K. government, the newspaper said. The probe may wind down in late August or early September, it reported.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Iain Wilson, Jim McDonald

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