The Financial Times has echoed an earlier Wall Street Journal report that Electricite de France is thinking about increasing its stake in Constellation Energy.

SAN FRANCISCO (MarketWatch) -- Electricite de France SA is considering raising its stake in ailing Constellation Energy Group Inc. or may even launch a bid to take over the power company altogether, The Wall Street Journal reported late Wednesday on its Web site, citing people familiar with the situation.

FT:

EDF eyes Constellation bid

By Ed Crooks in London, Peggy Hollinger in Paris and Julie Mackintosh in New York
Wednesday Sep 17 2008 17:00
EDF is considering a bid for Constellation Energy (NYSE:CEG) , its US partner, even as it prepares finally to set the seal on a sweetened £12bn (€15bn) offer for British Energy, the UK's nuclear operator.

British Energy's board met on Monday and concluded that it was expected to be able to recommend the EDF offer. However, some technical details remain to be resolved and the deal could still collapse again at the last minute, as it did in July.

Meanwhile, the French group's board met in Paris yesterday to discuss the group's options for further investment in the US, where a crisis of confidence has sent its US partner's shares crashing in the past few weeks. EDF earlier this month doubled its stake to 9.51 per cent in Constellation, which was to have been its entry into the potentially lucrative US nuclear relaunch.