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UK Plans to Oust China’s CGN From Nuclear Project: FT

A fisherman takes a nap on Sizewell beach near Sizewell nuclear power station in Suffolk, eastern England in April 2013. Pic: Suzanne Plunkett.


The British government plans to sell a stake in a new 20-billion-pound ($27bn) nuclear power station to institutional investors or float it on the stock market in a bid to remove China General Nuclear Power Group (CGN) from the project, the Financial Times reported on Wednesday.

The government is near a deal that would force state-owned CGN to give up its 20 per cent stake in the proposed Sizewell C nuclear plant in Suffolk, the report said. The government would hold the stake until it can be sold to institutional investors, the report added, citing people briefed on the situation. Those people said another option is to float the stake on the stock market through an initial public offering, the report said.

Full story: Financial Times.

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.


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