British Energy Says Canada Sale Going Well

LONDON, ENGLAND -- Nuclear power firm British Energy said it was making good progress in attempts to sell its Canadian unit Bruce Power, as the cash-strapped UK company came under further pressure to finalize a deal.

"We are making good progress on the sale," a British Energy spokesman told Reuters, after news that Canada's nuclear safety watchdog had demanded a quick sale. The firm, which owns 82 per cent of Bruce Power, is believed to be in talks with Canada's Cameco Corp., the world's biggest uranium supplier and a 15 per cent shareholder in Bruce.

Source: Reuters