No capital increase, nor delisting from Piazza Affari, unless absolutely necessary. Edison will become the strategic pole that will manage all EDF's investments in gas at an international level and its operational base will remain in Milan. As for the 10% of the company in the hands of Carlo Tassara, "it's not a problem". This is the path traced by Henri Proglio, number one of the French giant that has incorporated the Italian company and since yesterday president of Edison itself.
“In South Stream, a project in which EDF holds a 15% stake – continued Proglio -, Edison will have management responsibility, as well as that of the LNG terminal in northern France, storage and hydrocarbons. Edison will therefore be EDF's strategic-management pole in the gas sector with a team located in Milan".
The operational base in Italy will therefore be "the gas platform for the group as a whole internationally – underlined the French manager -. All strategies and skills will be defined in Milan. We will give Edison more ambitions on a geographical level by looking at the Mediterranean basin, as well as at Italy”.
Proglio then guaranteed that, after the acquisition by Edf, Edison no longer needs any capital increase: "This is no longer a problem, we can improve the situation from a financial point of view and as EDF we can provide financing to Edison".
As for the stock on the Stock Exchange, following the takeover bid that Edf will shortly launch on minorities, Proglio hoped that the group could remain listed: "If we have sufficient free float we will remain on the stock exchange otherwise, if we are forced to delist, we will. We want to abide by the rules. It is positive for the company to be listed, Edison is an important part of Milan's history, but I think we will have to be pragmatic: if it is possible we will remain listed, if not in a few years, not immediately, we will return to the market".
This morning, Edison's stock travels just below parity.
