France's EDF in talks to buy So Energy to expand British customer base

EDF Negotiates So Energy Buyout to Grow British Electricity Customer Base

EDF's Strategic Expansion in the UK Energy Market

Acquisition Talks Between EDF and So Energy

PARIS, Sept 7 (Reuters) - French state-owned electric utility EDF is in talks to acquire electricity supplier So Energy, which is majority owned by Irish company ESB, a source with knowledge of the matter told Reuters on Monday, confirming a media report from Sunday.

Potential Impact on EDF's Customer Base

The acquisition of the retail electricity supplier and solar panel installer would expand EDF's already large footprint in Britain, where it supplies around 5 million customers with electricity.

Additional Customers from So Energy

The purchase would add around another 300,000 customers for EDF, the Sky News report said.

Market Competition and Industry Context

So Energy's Position and Response

A spokesman for So Energy said the company is considering a range of options but cannot comment further on them as the matter is commercially sensitive.

EDF's Competitive Landscape

EDF is trying to keep up with competitors Octopus Energy, British Gas and E.ON in a competitive British market.

Rival Moves in the UK Energy Sector

German utility E.ON is also seeking to increase its presence there and in May announced plans to buy rival Ovo Energy for an undisclosed sum. 

Deal Valuation and Confidentiality

The source, who declined to be named because they were not authorised to speak publicly, did not provide a valuation for So Energy.

(Reporting by Forrest Crellin;Editing by Alison Williams and Barbara Lewis)