Having entered the capital of EDF at 35 euros per 1 share during the privatization in 2005, they do not want to leave it at 12 euros in connection with the renationalization. Elektra’s minority shareholders want to push back the state’s public bid for 16% of the capital still outstanding on the stock market. The offer price was set at 12 euros per share. US hedge funds, French funds, employee shareholders and small savings have multiplied in recent hours against what they see as an undervaluation of the group’s value. Crossing the 90% capital limit will allow the state to start a forced withdrawal procedure.
The acceleration of the schedule has given rise to several appeals against the timing of the operation, but not against the operation itself. All the players in the case agree that the state should come in and save EDF. The group will collapse at the end of 2022 with a debt of 60 billion euros due to staggering costs (the impact of 32 billion…
Source: Le Figaro
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