Three of the top 10 banks for European equities were today called into action to handle the UK's largest deal of the year after the government launched the long-awaited sale of nearly half its stake in British Energy.

Alistair Darling, the UK trade and industry secretary, today confirmed the government will press ahead with plans to cut its 64% controlling stake in British Energy to roughly 39% through a £2.6bn (€3.8bn) public share offering.