Areva Says It Won’t Takeover Urenco

Reuters reported Areva (EPA:AREVA) on Wednesday denied having any plans to buy a stake in Urenco.

As quoted in the market news:

Urenco is owned by German utilities RWE (RWEG.DE) and E.ON (EONGn.DE), which jointly hold 33 percent, as well as the Dutch and British governments, which each have one-third of the company’s equity.

The timing is not ideal for Areva as it is cutting investments and selling assets to shore up its balance sheet as the world’s biggest nuclear reactor builder tries to weather a plunge in demand in an industry still reeling from Japan’s Fukushima disaster.

Click here to read the full Reuters report.