UPDATE 3-E.ON offers to sell assets to overcome EU Innogy concerns [Reuters]
IBERDROLA SA S/ADR (IBDRY)
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Source: Reuters
E.ON offers to sell assets to overcome EU Innogy concerns - Reuters 3 Min Read DUESSELDORF, Germany/FRANKFURT (Reuters) - E.ON has offered to sell assets in Hungary, Germany and the Czech Republic to address European Union antitrust concerns over the German energy group’s bid for rival Innogy’s network and retail assets. The deal, part of a bigger asset swap with Innogy’s parent RWE which would more than double E.ON’s customers in Germany to nearly 14 million, is the subject of a deepened EU investigation into whether it will hurt competition. Chief Executive Johannes Teyssen said late on Monday that E.ON has offered to sell part of its retail business in Hungary as well as Innogy’s retail power and gas business in the Czech Republic, with 1.6 million customers, to ease EU concerns. E.ON has also offered to drop 260,000 heating customers in Germany, as well as the right to operate 32 charging stations for electric cars along Germany’s Autobahn motorway network. Smaller rival Lichtblic
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