British Energy has applied for a de-listing of its shares after the European Commission approved its £1.5bn (€2.2bn) debt restructuring plan.

The UK electricity generator is racing to de-list the company ahead of an extraordinary general meeting requesitioned by two of its shareholders, Polygon Investment Partners, the hedge fund, and Brandes Investment Partners, the US traditional fund manager. Polygon and Brandes are trying to alter the terms of the restructuring in their favour.