French set for Northumbrian Water bid

French set for Northumbrian Water bid

Shares in Northumbrian Water soared 40p to 995p yesterday in expectation of a bid worth more than pounds 800m from Lyonnaise des Eaux, the French water company. Ian Byatt, the water regulator, is to deliver a report on Monday to Ian Lang, president of the Board of Trade which is expected to approve the details of price cuts of 15- 20 per cent as a condition of a bid going ahead.