National Grid has noted the recent press speculation regarding discussions between National Grid and KeySpan Corporation (“KeySpan”). The Directors of National Grid confirm that they are in discussions concerning a potential transaction with KeySpan but emphasise that these discussions are yet to be concluded and that there is no certainty that they will lead to any definitive agreement. If agreed, any transaction would be on an all cash basis, satisfied wholly from borrowings.
A further announcement will be made as appropriate.
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