Vattenfall declines to comment on British Energy speculation

Sweden's state-owned power company Vattenfall AB has said it wants to increase its market share in Europe, but refused to comment on speculation that it is lining up a bid for British Energy.

“We have the ambition to grow market share in Europe, and the UK is part of that. The growth can happen partly through organic growth, and partly through acquisitions,” Klaus Aurich, head of investor relations told Thomson Financial News.

“We are looking at conceivable possibilities to grow our market,” he added.

The Sunday Telegraph reported that Vattenfall is examining a takeover bid and has appointed Citigroup to advise it. British Energy is already the subject of a takeover battle between Germany’s RWE and EDF of France.