British Energy Message Board

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Gold/Mining/Energy : British Energy

BGY 5.840

+0.2%

Dec 24 4:00 PM EST

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To: Copperfield who started this subject	12/3/2002 3:22:31 PM
From: Copperfield	of 25

British Energy Bondhldrs Mull Rejection Of Rescue Plan Tuesday December 3, 11:31 am ET LONDON - Bondholders of struggling U.K. nuclear operator British Energy PLC Tuesday said they are considering rejecting a rescue plan proposed by the company, which could endanger its viability. Two bondholders contacted by Dow Jones Newswires said they may recover more of their investment by pushing the company into insolvency proceedings than by agreeing to British Energy's debt and equity swap plan unveiled Thursday. "I think the (British Energy) management team has forgotten who they work for, " said one London-based bondholder. "It's not in the interest of their investors and it's not in the interest of the creditors."

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