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4 August 2008 - Electricity and gas supplier Centrica has said that it would consider merging with British Energy.
Centrica said in a statement that it would consider the tie-up should British Energy fail to be bought by a "third party".
The third party was likely to refer to French utility group EDF, which last week had a multi-billion-dollar bid for British Energy turned down, reports AFP.
Should the third party succeed in buying British Energy, however, then Centrica would take a minority stake in the new company, the gas supplier added. Should a takeover fail to arise, then Centrica said it would consider a merger with British Energy.
"Further to recent press speculation, Centrica confirms that it is in discussions with a third party with a view to Centrica taking a minority ownership position in British Energy, subject to various conditions, including this third party successfully acquiring British Energy and receipt of regulatory clearances," Centrica said in its statement.
"In the event that the third party does not proceed with an offer for British Energy, or Centrica's discussions with the third party do not result in an agreement, Centrica might consider a number of other alternatives with respect to British Energy.
"These alternatives may include ... a possible merger of Centrica with British Energy, only if terms could be agreed and if all parties are fully supportive."
Centrica added that it was not in discussions with British Energy over a possible merger.
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