Independent shareholders in French state-controlled utility EDF may have found an unexpected ally in new British Prime Minister Theresa May. A day after EDF’s board narrowly decided to push ahead with the construction of two new nuclear reactors at Hinkley Point, the UK government announced a surprise review of the humongous project. Pulling the plug would be a service to UK taxpayers as well as EDF investors.
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Financial investors seem to think the UK will settle easily into a new deal with the European Union. More likely there will be cabinet wrangles, tortuous negotiations with the EU, and an unsatisfactory conclusion.
AB InBev is serving shareholders of SABMiller a cocktail of sweetness and cynicism. The Budweiser brewer has increased its takeover offer for the UK drinks group just enough to give agitating hedge funds who hold shares in its UK rival a dignified exit. But the extra dash of cash mostly ignores the fact that AB InBev’s offer is worth far less, in U.S. dollar terms, than it was in November.