Centrica "could face Qatari takeover bid"

6th Jun 2014 12:12

British Gas owner Centrica could face a takeover bid from Qatar or Electricite de France (EdF), according to reports citing market talk.Qatari investors had approached Centrica shareholders with an offer to buy "big lines of stock" ahead of a potential cash bid for the group, various newspapers reported.Centrica signed a four-and-a-half year deal to import Qatari liquefied natural gas to the UK last November.There was also talk that EdF, with whom Centrica has a partnership to run the UK's nuclear power stations, may be interested.Centrica has faced an exodus of top executives and public uproar about increases in household gas and power bill hikes at a time when it is boosting profits.However, Centrica last month warned of lower-than-expected 2014 earnings and pledged to put its three biggest gas-fired power plants up for sale - the latest European utility to take a hit from loss-making power stations and mild weather.A Centrica spokesman declined to comment. The company's stock rose 3.7p or 1.1% to 334.2p at 12:28 in London.PW