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UPDATE 2-EDF mulling new bid for Constellation-source

2008-12-03 01:29:52 GMT (Reuters)
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(Changes sourcing, adds paragraph 2)

NEW YORK, Dec 2 (Reuters) - Electricite de France SA is considering a number of ways to snag Constellation Energy Group Inc away from Warren Buffett's MidAmerican Energy Holdings Co, according to a source familiar with the matter.

MidAmerican Energy, a subsidiary of Buffett's Berkshire Hathaway Inc, agreed to pay $4.7 million in September for Constellation, which was on the brink of bankruptcy. As part of the deal, MidAmerican gave the power company an immediate $1 billion cash infusion.

Constellation shareholders are set to vote on the deal on Dec. 23.

In October, EDF, the world's largest producer of nuclear energy, dropped a bid for Constellation, saying the credit crisis had made financing more difficult to obtain. EDF already owns 9.5 percent of Baltimore-based Constellation.

"We are focused on completing our merger with MidAmerican Energy Holdings and beyond that, we cannot comment on market rumor and speculation," said Constellation spokesman Robert Gould.

EDF is not working with other firms on any potential bid, the source said. (Reporting by Michael Erman and Phil Wahba; editing by Jeffrey Benkoe, Gary Hill)

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