1.00pm
Edison tight-lipped on possible sale of its 51 per cent contact share
United States firm Edison Mission International is remaining tight-lipped over the proposed sale of its 51 per cent share in Contact Energy.
Edison's spokesman, Kevin Kelley, said today the firm would only make an announcement "when and if any asset
sales are final."
He would not elaborate on when that time might be, other than, broadly, in the 2004 calendar year.
"I'm sorry, but we just don't have any new information for you at this time," Mr Kelley said. "Of course, we will be happy to share our announcements with you when and if they happen," he said.
Meanwhile, bids for the overseas assets of the debt-ridden and California-based Edison are due in on June 25.
Market speculation has it that The Australian Gas Light Co (AGL) is the clear front-runner for the sale.
However, news that Auckland-based lines company Vector may be partly privatised and is understood to be in talks with gas pipelines company NGC has fuelled the market rumours.
AGL is tipped to sell its 66 per cent stake in NGC if it buys the Edison stake and if Vector purchased it, that could also be linked to a privatisation in the form of a reverse takeover.
Other possible bidders included: American International Group Inc, Japan's Mitsubishi Corp, Malaysian casino and power group Genting Bhd, Britain's International Power, and a private power investment fund owned by AIG.
- NZPA
