EDF in Spain: the albatross

It’s the sorry fate of EDF that it can’t move without some political blessing. The 84% state-owned French energy group looks like an albatross as soon as it ventures abroad, hindered by the wide perception that it is nothing but the French government’s arm, its fortunes rising or sinking along with French policies’ popularity. So it should come as no surprise that EDF can only rely on politics to get what it wants in Spain. The French group is interested in Iberdrola, the E50bn electricity and ...