LOS ANGELES, Aug 12: A delay in British regulatory approval of PacifiCorp's $9.6 billion acquisition of The Energy Group Plc will result in a $65-million currency-related loss in the third quarter, the utility holding company said.

PacifiCorp said the after-tax loss stemmed from unwinding of currency hedges, and exceeded its previous forecast of a $27-million currency-related cost.Pacificorp's stock barely reacted to the news, rising 69 cents to $21.25 on the New York Stock Exchange.

"It is not fun to lose $65 million, but this is a multibillion-dollar deal. If they do it, the money will just be rolled into the cost of the transaction," Barry Abramson, an analyst at Paine Webber, said.The deal has been touted as an ideal means for PacifiCorp to expand its international franchise.

The Energy Group Plc owns, among other assets, Eastern Electricity, Britain's largest electric utility in terms of distribution territory.

Last week, PacifiCorp's offer for Energy Group hit a major roadblock following a decision by Britain's Mergers and Monopolies Commission to conduct a formal investigation of the deal.

But PacifiCorp said it will cooperate with British authorities and remains committed to acquiring Energy Group.The British government's hardline stance was seen by many as part of the Labour party's efforts to carry out the pro-consumer platform on which it vaulted to power in May.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.