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UK’s competition watchdog to examine EDF buying GE’s nuclear turbine unit
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(Reuters) – UK’s anti-trust regulator said on Monday it was looking into whether FDF’s proposed acquisition of General Electric Co’s France-based nuclear turbine unit could lead to competition concerns.
(Reuters) – UK’s anti-trust regulator said on Monday it was looking into whether FDF’s proposed acquisition of General Electric Co’s France-based nuclear turbine unit could lead to competition concerns.
The Competition and Markets Authority (CMA) said it was inviting comments from the companies concerned related to the impact the deal could have on competition in the UK.
EDF had entered into an exclusive agreement with GE to buy part of GE’s Steam Power’s nuclear power activities, bringing together nuclear steam turbine technology and service expertise.
The GE unit, estimated to be worth around $1 billion as per media reports, was owned by Alstom until 2015.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Savio D’Souza)
An acquisition is a corporate action in which one company purchases most or all of another company's shares to gain control of that company.
Competition law is a set of laws that promote or maintain market competition by regulating anti-competitive conduct by companies.
Nuclear energy is the energy released during nuclear fission or fusion, especially when used to generate electricity.
A turbine is a mechanical device that converts fluid energy into rotational energy, commonly used in power generation.
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