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The Guardian - UK
The Guardian - UK
Business
Alex Lawson Energy correspondent

EDF shares surge as France ‘prepares for €8bn nationalisation’

EDF logo on the company's headquarters in France
EDF shares rose by 9.4% in early trading before settling at €10.26, valuing the company at €39.7bn. Photograph: Johanna Geron/Reuters

Shares in EDF have surged on reports that the French government is prepared to pay more than €8bn (£6.8bn) to nationalise the energy company.

France’s prime minister, Élisabeth Borne, announced plans last week to take full control of the power group in an attempt to keep a handle on spiralling household electricity bills.

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