The French state has undertaken to ask the Autorité des Marchés Financiers (AMF) to reopen its offer for EDF for a period of ten days in the event of a ruling by the Paris Court of Appeal in favor of its renationalization project, EDF said on Thursday.

The AMF announced on Wednesday that the takeover bid filed in October by the government for the 16% of the capital it does not own would be provisionally closed on February 3, subject to reopening in accordance with the government's commitments.

This decision follows the appeal lodged with the Court of Appeal against the proposed takeover by minority shareholder associations, who consider the offer price too low. The court will issue its decision by May 2 at the latest.

Should the Court of Appeal annul or overturn the AMF's decision, the French State, which announced on January 20 that it had crossed the threshold of 90% of EDF's capital, undertakes to return the shares already acquired to former holders who so request.

In such a case, and in the event that the French State decides to submit a modified draft offer at a more favorable price, the French State promises to pay a price supplement to any shareholders or bondholders (océanes) who so wish, adds EDF in a press release.

(Written by Jean-Stéphane Brosse, edited by Matthieu Protard)