EDF nationalisation ruling imminent, sources say

PARIS (Reuters) -French markets regulator AMF's ruling on the state's nationalisation offer for utility group EDF is imminent, two sources familiar with the situation told Reuters.

One of the sources said that the AMF was likely to give its approval for the state's offer for the 16% of EDF capital that it does not already own after its meeting on Nov. 22, adding that a decision had been delayed by talks with EDF about the conditions under which its board recommended the bid.

The AMF, EDF and the finance ministry declined to comment.

EDF's board, with a majority of the members present, voted on Oct. 27 to declare that the state's offer of 12 euros per share and 15.52 euros per "Oceane" convertible bond would allow minority shareholders to sell at a price deemed equitable by an independent expert.

Some employee shareholders had contested the conditions under which the board had voted, arguing that outgoing CEO Jean-Bernard Levy had been appointed by the state and should not have taken part in the vote.

The cost of renationalising EDF is estimated at more than 9.6 billion euros ($9.95 billion).

The operation is meant to help the debt-laden group contend with caps on power prices and an unprecedented slump in output from its nuclear plants because of technical problems.

($1 = 0.9653 euros)

(Reporting by Benjamin Mallet and Leigh Thomas,Writing by GV De ClercqEditing by Ingrid Melander and David Goodman)