Centrica PLC (CNA.LN) said Thursday that is has put its 51% stake in Belgian utility SPE on the table in its negotiations with Electricite de France SA (EDF.FR) over the price Centrica might pay for a 25% stake in EDF nuclear power subsidiary British Energy.

"The companies expect the discussions to conclude in the next few weeks. There can be no certainty that any agreement will be reached," Centrica said in a statement.

Centrica initially agreed to buy 25% of British Energy from EDF for GBP3.1 billion last year, but the sharp fall in the price of oil, gas and electricity in the U.K. since then has reopened negotiations on the price.

The statement should reassure investors, said an analyst, who declined to be named.

"This update indicates the deal with EDF is still progressive, unlike downbeat press speculation over the recent weeks, which suggested the deal could fall through," the analyst added.

EDF sought to buy the 25.5% SPE stake that GDF-Suez SA (GSZ.FR) sold last year, but Centrica exercised its contractual rights to preemptively purchase the stake.

Centrica is also mulling a takeover bid for Venture Petroleum PLC (VPC.LN), in which it recently acquired a 22% stake.

At 1425 GMT, Centrica shares were up 0.6%, or 2 pence, at 238 pence in higher overall U.K. market.

 
   -By James Herron, Dow Jones Newswires; +44 (0)20 7842 9317; james.herron@dowjones.com

(Ishaq Siddiqi contributed to this article.)
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