* Supervisory, management boards to meet - source
* Shareholder pact comes up for renewal on Tuesday
* Edison shares up 1.7 percent, A2A up 1.2 percent
(Adds detail, background, shares)
By Giancarlo Navach
MILAN, March 9 (Reuters) - A2A's board will meet on Thursday to discuss reorganising its Edison affiliate, which the Italian utility controls along with French peer EDF, a source close to the matter said on Wednesday.
The Edison shareholder pact between A2A, Italy's biggest regional utility, and EDF expires in September but comes up for renewal on Tuesday.
If the accord is not renewed, Edison, Italy's number-two power generator, could be broken up and its assets shared out, among other possible outcomes.
A2A's supervisory and management boards will hold special meetings at 1100 GMT in Milan to discuss "the state of talks with EDF over Edison. The agenda does not include a decision," said the source, who spoke on condition of anonymity.
Supervisory board chairman Graziano Tarantini and management board chairman Giuliano Zuccoli will report on the outlines of an accord on Edison, the source said.
Edison shares were up 1.7 percent at 1010 GMT, while A2A was up 1.2 percent with EDF 0.2 percent higher.
Delmi, the holding company through which A2A and EDF control Edison, will hold an executive committee meeting on Friday to examine a possible accord, the source said.
Il Sole 24 Ore and Corriere della Sera newspapers reported late last month that, under the deal, EDF would become Edison's controlling shareholder while A2A would get a minority stake plus some Edison generating assets.
La Repubblica newspaper reported on Wednesday Italian economy minister Giulio Tremonti had asked for a pause for reflection on the deal nearly agreed on Edison. (Reporting by Giancarlo Navach; Writing by Ian Simpson; Editing by Dan Lalor)