Energie en Actions, an association of current and former EDF employees, announced on Tuesday that it had withdrawn its application for a stay of execution concerning the French government's takeover bid for the energy company.

In a press release, the association explains that it has taken note of the French government's commitment not to complete the renationalization process by launching a squeeze-out offer if it reaches the threshold of 90% of EDF's capital before the courts rule on the merits.

Energie en Actions lodged an appeal on December 2, after the AMF had declared the French government's proposed simplified tender offer for EDF shares to be compliant.

At the same time, it had filed an application for a stay of execution to prevent the French government from launching a squeeze-out offer before the Court handed down its decision - which it has now withdrawn.

The appeal "must be decided within a maximum period of 5 months, i.e. by May 2, 2023 at the latest", the association points out in its press release.

The French government did not immediately respond to Reuters' enquiries as to whether it had undertaken not to launch a squeeze-out offer, i.e. a delisting of EDF from the Paris stock exchange, before then. (Reported by Benjamin Mallet and America Hernandez; written by Kate Entringer and Tangi Salaün, edited by Matthieu Protard and Kate Entringer)