Still no deal on pounds 3bn Grid

Still no deal on pounds 3bn Grid

The National Grid Company failed again to reach final agreement on details of its pounds 3bn flotation, expected to take place in December. An announcement expected last Friday was postponed because of tax-related "technical" issues raised by Hanson, the industrial group that has bought Eastern Electricity, one of the 12 regional electricity companies which owns the Grid. Industry sources hope for resolution of the problem by tomorrow.