Electricite de France shares jump after French prime minister says country will nationalize it

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Shares of French nuclear power operator Electricite de France EDF, +12.80% rose 8% in afternoon Paris after French Prime Minister Élisabeth Borne said the French state will nationalize the company. The French government already owns 80% of the utility. Borne’s comments came in a broader address to French parliament on the need to prepare for Russian gas cuts.

This article was originally published by Marketwatch.com. Read the original article here.

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