French government plans to nationalise the indebted French energy giant EDF amid a broad energy crisis aggravated by Russia's invasion of Ukraine are facing fierce opposition from employee shareholders who are to sue the government.
Association members say the decision is against the company and minority shareholders' interests.
"Today the state needs to explain itself for the management as an ultra-majority stakeholder of the company," the association 'Energie en actions' said in a statement, reports Reuters.
Tomorrow, the French government will announce the terms to acquire the outstanding 16% of the business it does not already own.
In an effort to reduce their dependence on Russian oil and gas, France and Europe are seeking alternative energy sources.
Shares of EDF, which has been plagued by nuclear reactor shutdowns and other problems, rose 5.96% on the news to close at €10.22.
EDF manages France's large fleet of nuclear reactors, which are facing a variety of technical challenges, and a new generation of reactors is years behind schedule and billions of dollars over budget.
The French company is also in talks with Downing Street to arrange financing for the Sizewell C nuclear plant, which is running miles late and way over budget.
EDF had revenue of €84.5bn last year, profits of €5.1bn, and serves tens of millions of customers worldwide, though it was partially privatised in the early 2000s.