Struggling nuclear power group British Energy still faces the "serious possibility" of going into administration if it is unable to reach a rescue deal with its creditors.
The group, which produces about a fifth of the UK's electricity, is battling to reach an agreement with banks and bondholders before the Government-imposed deadline of September 30.
The Department of Trade and Industry yesterday said it "would not substantiate" newspaper reports that its officials were drawing up detailed plans to renationalise the ailing power generator.
Monday September 8, 2003
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