French power group Electricite de France SA (EDF.FR) Friday confirmed that it improved its offer for Edison SpA (EDN.MI), securing approval of the Italian market regulator Consob and sealing an agreement that should grant it the control of the Italian utility, ending a more than two year battle for control of the Italian utility.

EDF has agreed to pay EUR0.89 per Edison share, or around EUR780 million, an increase from an initial price of EUR0.84/share, or EUR700 million, to increase its stake in Edison to 80.7% from 50%.

The French state-controlled group will also launch a full takeover bid on the rest of the Edison shares, also offering EUR0.89 each.

"The net incremental cost to EDF of this revised structure is a maximum of approximately EUR25 million, " EDF said.

-By Geraldine Amiel, Dow Jones Newswires; +33 1 40171767; geraldine.amiel@dowjones.com

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