01 August 2008

Jilted

First you set out to woo her. Then you declare your interest in marriage, preferably on one knee. And you negotiate the terms, the dreaded pre-nup. The prospective mother in law (in this case the British Government) declares herself satisfied, even approving. Then at the last moment you get cold feet. The Independent reports:
The nuclear power generator British Energy today said discussions over a possible takeover of the company have failed to reach an agreement.
The firm, which owns eight nuclear power plants and generates around one-sixth of the UK's electricity, is the subject of takeover interest from EDF, the French state-controlled electricity company.
EDF had been expected to announce a £12 billion deal this morning, but it said last night that "conditions for a major development in Great Britain" had not been met. It did not provide further details.

British Energy has its headquarters in East Kilbride. Is the failure of the takeover a Good Thing for Scotland? Don't know. Does it matter? Yes, enormously. You'll see ...

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