July possible date for EDF-Enel deal

Resumen de Prensa            Enervía, jueves, 20 mayo 2004

FUENTE: Platts


New delays continue to stall a deal between Italy's Enel and Electricite de France to grant Enel access to the French electricity
market, a reliable industry source said. The delays mean that an deal is not likely before July, the source said.. EDF "has asked for extra time," he said. "July has come out as a possible time" for a pact. One major reason for the delay is the complexity in
overhauling EDF's company statutes for partial privatization as planned by the French government. EDF and Enel officials earlier
said they expected an deal by January. Talks are still focused on resolving several complex issues, including withdrawal rights for
Enel to access energy in France, creation of a joint venture to market energy in countries outside France and Italy and resulting
antitrust issues, and Enel involvement in EDF's plans to construct a European Pressurized Reactor, the source said. He noted that Enel views the pact as a basis to assess the opportunities for expansion in France.