PARIS (AFX) - State-controlled nuclear energy giant Areva should focus on the development and operational success of its EPR third-generation nuclear reactor rather than a policy of acquisitions or mergers, Thierry Breton, the finance minister, told journalists.
Asked about talk of a tie-up between Areva and engineering group Alstom, Breton said that as a shareholder he is prioritising the 'operational aspect rather than the aspect of acquisitions.'
He rejects 'destabilising acquisitions', Breton said at a meeting of the Association of Economic and Financial Journalists.
Breton said he has not been notified of any such tie-up.
Patrick Kron, Alstom chairman, said last week that it would 'make sense' to 'do things together' with Areva's Nuclear power division, formerly Framatome.
Breton said Areva's teams should focus '100 pct' on the operational success of the EPR (European pressurised water) reactor.
'In the very strict road map which Areva's supervisory board is compiling, the capacity to focus still more on the operational side will be a major point,' the minister said.
The mandate of Anne Lauvergeon as Areva's management board chairman expires on July 3, along with the contracts of the rest of the management board.
Areva said on Friday that its supervisory board will proceed with appointing members of the management board but did not say whether Lauvergeon is likely to be reappointed. equitynext@afxnews.com blb/an COPYRIGHT Copyright AFX News Limited 2005. 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
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