Muddy waters

28 October 2009 By Pierre Briancon

The incoming chairman and chief executive of EDF says he doesn’t want to merge the French electricity group with Veolia, the environment services company he currently heads. But he still wants EDF to become Veolia’s dominant shareholder. This is a bad idea.

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Henri Proglio told a panel of French politicians that he would not pursue a full merger between EDF and Veolia, according to Reuters.

Proglio met with French parliamentarians on 27 October, prior to assuming the leadership of EDF later this year. The French state has a stake of 84.7% in the electricity group.

Proglio is currently chairman and chief executive of Veolia. He will remain on the environmental services company's board as a nonexecutive chairman after taking up his new position at EDF.

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