PARIS (AFX) - Areva is in talks with the French economy ministry on whether the state-controlled nuclear energy group will increase its takeover offer for Repower Systems AG after its bid was topped by a joint proposal from India's Suzlon Energy Ltd and Portugal's Martifer, Le Figaro reported, without naming its sources.
A decision is expected in coming days, the newspaper said.
Repower last night said its supervisory and executive boards are recommending that shareholders accept the 126 eur per share offer from Suzlon Energy and Martifer, a unit of Mota Engil SGPS.
The German company had initially accepted a 105 eur per share bid from Areva, which is Repower's largest existing shareholder, with 29.9 pct.
Andrew.Newby@Thomson.com an COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited