It is turning into a bad Christmas for Areva. The French state-controlled nuclear group was already facing growing problems and costs in Finland where it is building with its German partner Siemens the first of its new generation EPR reactors. Now it has lost out to Westinghouse, its US rival recently acquired by Toshiba of Japan, in the competition for four nuclear reactors in China.

The French government claims the delays in the flagship EPR project in Finland persuaded the Chinese to opt for the Westinghouse AP 1000 technology. But this is not fair. One factor that appears to have penalised Areva was the French group's reluctance to agree to significant transfers of sensitive technology to China - something the US group and its new Japanese owners were prepared to offer to clinch the deal.