The French government will not complete the process of renationalizing EDF before the Paris Court of Appeal hands down its decision on an appeal lodged by minority shareholder associations, expected by May 5 at the latest, the French state shareholding agency Agence des participations de l'Etat (APE) said on Tuesday.

Energie en Actions, the association of current and former EDF employee shareholders behind the appeal, had earlier announced that it had withdrawn its application for a stay of execution of the French government's takeover bid.

In a press release, the association had explained that it had taken note of the French government's commitment not to complete the renationalization process by launching a squeeze-out offer on the Paris stock exchange if it were to reach the threshold of 90% of EDF's capital before the courts had ruled on the merits of the case.

Energie en Actions lodged an appeal on December 2, after the AMF had declared the French government's proposed simplified takeover bid for EDF shares to be compliant.

The appeal, which will be examined by the Paris Court of Appeal on Wednesday morning, "must be heard within a maximum period of 5 months", i.e. by early May at the latest, the association points out in its press release.

(Reported by Benjamin Mallet, America Hernandez and Leigh Thomas; written by Kate Entringer and Tangi Salaün, edited by Matthieu Protard and Kate Entringer)