EDF Energy News
EDF Sells UK Networks to Hong Kong Consortium for £5.8 Billion
EDF Energy recently sold off its regulated and non-regulated network activities, meaning its cables and substations, while retaining its power generation. The Hong Kong consortium is headed by the billionaire Li Ka-Shing who is worth an estimated £13.5 billion. EDF had a net drop in profits for the first half of the 2010 and it needed to raise funds to reduce its debt levels.