Power Group Online Article |  | |
28 January 2008 - French power group EDF is not interested in taking over German power utility RWE German newspaper Sueddeutsche Zeitung quoted RWE Chief Executive Juergen Grossmann as saying, according to Reuters.
Citing high-level power industry sources, Germany's Der Spiegel magazine reported on Saturday that French President Nicolas Sarkozy had asked German Chancellor Angela Merkel whether Paris should expect high-level opposition from Berlin if majority state-owned EDF were to bid for RWE.
Grossmann told Sueddeutsche Zeitung in a preview received on Sunday of an article due for publication in Monday's edition that EDF Chief Executive Pierre Gadonneix "has assured me that there is no interest at the moment."
EDF was keen on constructive cooperation and "disapproves of hostile takeovers as a matter of principle," Grossmann said.
EDF is Europe's biggest power utility with a market value of €124bn ($182bn). It owns 45 per cent of Energie Baden-Wuerttemberg (EnBW), Germany's third-biggest utility after E.ON and RWE.
|
Return to Previous Page
Power Engineering Webcasts | |
|
Sponsored White Papers Library | | |
|
|
|
|
Articles 
| View all PennWell sites | View all PennWell events
Add RSS Feed
