France's EDF wants to sell its British electricity distributor
Paris - French energy provider EDF said Friday it was initiating a process that could lead to the sale of its British electricity distributor, EDF Energy.
The move is in line with EDF's announced intention to reduce its debt by at least 5 billion euros (7.27 billion dollars), EDF head Pierre Gadonneix said.
Following EDF's purchase of British Energy, the company's debt ballooned to over 36 billion euros by the end of the first half of 2009.
EDF Energy is Britain's largest electricity distribution network operator, serving about 8 million households and businesses in London, the South-East and East of England. It employs some 12,000 people. (dpa)