The French government stands ready to inject fresh capital into energy giant EDF if necessary, Macron said.
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Electricite de France SA, the indebted nuclear-power producer considering an 18 billion pound ($26 billion) reactor project in the U.K., can count on fresh financing from the French state if needed, Economy Minister Emmanuel Macron said.The French government owns 85 percent of EDF.The company's net financial debt climbed to 37.4 billion euros at the end of 2015 from 34.2 billion euros a year earlier. EDF has said it will finance new developments with asset sales and slash operational expenditures by 700 million euros by 2018 .Challenges Magazine reported this week that the government may waive its right to a cash dividend from EDF for the next five years to shore up the balance sheet by about 12 billion euros.
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