TWO European energy firms are thought to be putting the final touches to bids for Britain's upfor- sale nuclear power provider British Energy.

Spain's Iberdrola, which owns Scottish Power, and French nuclear firm EDF are expected to provide detailed offers to investment bank Rothschild, broker Charles Stanley has said.

British Energy owns eight sites in the UK, including a power station in Hartlepool, where plans to build a new reactor were recently approved.

The proposals could be between 600p and 700p a share, Charles Stanley said, which is at the lower end of analyst expectations and gives the company a market value of between £6.2bn and £7.2bn.