Electricite de France Plans To Back Sale Of Constellation Energy Despite Dispute

According to a NYT DealBook report, Electricite de France plans to back the sale of Constellation Energy Group (NYSE:CEG) despite the souring relationship between the partners.

Electricite de France is Constellation Energy's biggest shareholder.

EDF previously dismissed inquiries about a sale over the past few months but has reversed its thinking despite a dispute over its joint venture with the company.

Constellation Energy Group Inc. is public utility holding company. The Company, through its subsidiaries, develops, owns, and operates electric generation facilities located in various regions of the United States as well as operates an electric transmission and distribution utility company and a gas distribution utility company.

SmarTrend is bullish on shares of Constellation Energy and our subscribers were alerted to buy on September 02, 2010 at $30.68. The stock has risen 5.3% since the alert was issued.

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