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EDF agreed to sell 49 pct of grid unit RTE to CDC-Le Monde

Reuters - UK Focus

PARIS, July 28 (Reuters) - French state-controlled utility EDF (Paris: FR0010242511 - news) has agreed to sell a 49 percent stake in its high-voltage power grid unit RTE to state-owned bank Caisse des Depots, French daily Le Monde wrote on its website.

It (Other OTC: ITGL - news) said the plan would be presented to EDF's board on Thursday afternoon.

The price on which EDF and CDC have agreed is not known but it corresponds to a value of more than 6 to 7 billion euros, the newspaper reported.

EDF declined to comment.

The sale could be part of a 10 billion euro asset sale plan with which EDF hopes to shore up its balance sheet and raise funds to invest in nuclear plants in France and Britain.

(Reporting by Geert De Clercq; Editing by Andrew Callus)