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Tuesday, February 10, 2009

Centrica rises on bid talk

CentricaFeb 10, 2009 - LONDON/PARIS (Reuters by Rebekah Curtis et al.) - Shares in utility Centrica (CNA.L) rose over 4 percent on Tuesday on market talk that Gazprom (GAZP.MM) was mulling a bid, a rumour the Russian gas giant denied. "We are not in talks with either the shareholders or the management of Centrica," Deputy Chief Executive Alexander Medvedev told reporters at a press conference in London. Gazprom management was in London to give a presentation to analysts. "Apparently Gazprom have made comments at a capital markets day that they are interested in the UK, so people are putting two and two together," one trader said. Gazprom is often rumoured as a potential acquirer for Centrica. The UK's largest gas retailer declined comment. At 4:04 p.m. British time, Centrica shares were up 4.2 percent at 285.25 pence, one of the biggest gainers on the FTSE 100 .FTSE, which was down 1 percent.

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