EDF shares rise 15% after France details buyout plan

Shares in debt-laden utility EDF rose 15% on Tuesday as they resumed trading after the French government unveiled a 9.7 billion euros ($9.85 billion) buyout offer that gives it full control over Europe's biggest nuclear power operator. EDF shares had closed at 10.2250 euros on July 12, the last day of trading before they were suspended.

Shares in debt-laden utility EDF rose 15% on Tuesday as they resumed trading after the French government unveiled a 9.7 billion euros ($9.85 billion) buyout offer that gives it full control over Europe's biggest nuclear power operator. At 0705 GMT, EDF shares were up 15.3% at 11.79 euros.

The finance ministry said in a statement that the 12 euros per share price offer represented a 53% premium to the closing price of EDF shares on July 5, the day before the government announced its intention to fully nationalize the group. EDF shares had closed at 10.2250 euros on July 12, the last day of trading before they were suspended.