Rosatom says it could consider equity stake in Areva

Russian nuclear group Rosatom would be interested in taking an equity stake in French peer Areva if the French government allows it, a top Rosatom executive said on Dec. 27.

Under a government-led restructuring, 87 percent state-owned Areva will be split up, with its reactor unit Areva NP sold to state-owned utility EDF while its nuclear fuel unit will become a separate firm provisionally named NewCo.

Areva, EDF and the government are looking to sell minority stakes to foreign investors in both units.

Areva has said third-party investors have made a 500 million euro ($520 million) offer for a combined 10 percent stake in NewCo and that talks are under way with China's National Nuclear Corporation (CNNC) and Japan's Mitsubishi Heavy Industries (MHI) about taking a stake in NewCo.

Asked whether Rosatom would consider buying into Areva, Andrey Rozhdestvin, head of Rosatom Western Europe, said it would be willing to consider a stake in Areva NP and in NewCo.

"We do not rule this out. If it could help Areva, I think this can be considered," Rozhdestvin told reporters.

He said talks are ongoing with Chinese and Japanese potential equity partners, but not with the Russians.

"This is worrying us," he said, adding that Rosatom has several cooperation projects with Areva.

"Of course we try, if it is possible, to participate in the resolution of the situation," Rozhdestvin said.

Franco-Russian relations have been strained by Russia's role in Ukraine and Syria. French conservative Francois Fillon, a leading contender to win the presidential election in May, has said he wants to restore ties with Russia.

Asked if he hoped a possible Fillon win would facilitate Rosatom buying into Areva,...