Edison needs "broad EDF shoulders" says exec

A senior executive at Italian utility Edison has said the company would benefit from a takeover by a larger European utility, possibly Electricité de France (EDF). “Edison is too small in the long run to always remain independent,” he says. “So we need someone with broad shoulders to support us.”

“In the end, being part of EDF in Europe would be a very positive thing,” said the Milan based executive, adding that political issues are at present blocking such a move. “It is a very complicated situation. Politically it does not look good, like we’re losing out to the French.”

At present, EDF is barred from holding more than 2% voting rights in Edison’s parent company Italenergia, a law