EDF wants to sell part of its stake in Edison

EDF is considering selling a stake in Edison, which it has controlled since 2012. Edison's shares (without voting rights) listed on the Milan stock exchange implicitly value the company at €12 billion. EDF will have to negotiate the terms of its exit with the Italian state, and the Italian government is likely to want to avoid Edison falling into non-Italian hands. EDF could float a significant proportion of Edison's capital on the stock market, which would be subscribed by Italian institutional investors, with EDF retaining a minority stake in the company.