EdF digs into Constellation stock
09 September 2008
As authorised by its board last month, Electricité de France (EdF) has increased its stake in US nuclear generator Constellation. The additional shares were purchased on the open market and took EdF's holding to 9.51% of Constellation - slightly below the 9.9% authorised. Under US regulations, holding less than 10% means EdF will not have to undertake extra reporting duties or be constrained in its investments. The gradual increase in EdF's holding of Constellation stock is part agreements made by the two firms when beginning their Unistar initiative to deploy a fleet of at least four Areva EPR units in North America. EdF already operates all of France's 58 nuclear power reactors and intends to invest widely in new build abroad.