Centrica, Masdar Only Bidders for U.K.’s Failed Bulb: S. Times - Bloomberg
Only two firms, British Gas owner Centrica Plc and Abu Dhabi’s Mubadala Investment Co.-owned Masdar bid to buy collapsed U.K. energy supplier Bulb, the Sunday Times reported.
The first round of bids closed earlier this month, but of the six interested parties only those two submitted non-binding offers, the newspaper said, without detailing how it got the information. That makes a potential sale less likely, raising the chances that taxpayers will have to provide more funds than initially estimated. An outcome is not expected until June.
Centrica declined to comment to the Sunday Times, while Masdar did not reply to requests for comment.
Bulb Energy Ltd. collapsed in November as rocketing wholesale energy prices brought the company to its knees.
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