Edf still hopes to be able to finalize an agreement with Edison's Italian shareholders by October 31st. In this way the French would gain total control of Foro Buonaparte. Chief Financial Officer Thomas Piquemal said in a conference call that he would agree to extend the talks even beyond the date set for the end of the month.
This morning EDF had presented a new proposal for Edison's shareholders based on a price of 1,15 and 1,3 euros per share, ie about 15%-25% less than the offer formulated by the Italians and rejected by EDF. If this were to happen, the transalpines would obtain an immediate exit of the Italians from Delmi, setting the hypothesis of a three-year put. The French company also presented a purchase offer for the 20% held by A2a and 10% by Iren in exchange for shares in Edens, the structure that encompasses all the renewable activities in Italy.
The aim of the French group is to consolidate itself as the second largest force in the electricity production market in Italy, by assigning control of Edipower to the group and to make Edison "the development platform of the Edf group in the upstream gas market" . EDF then underlined that it will ask Consob for exemption from the takeover bid on the rest of the capital of the Foro Bonaparte company. The French then declared that they will undertake to preserve Edison's Italian character by maintaining its headquarters and listing in Milan.
