EDF shares surge as France ‘prepares for €8bn nationalisation’

French government plans to buy remaining 16% of energy giant to keep bills down could cost up to 10bn

Shares in EDF have surged on reports that the French government is prepared to pay more than 8bn (6.8bn) to nationalise the energy company.

France's prime minister, Elisabeth Borne, announced plans last week to take full control of the power group in an attempt to keep a handle on spiralling household electricity bills.