German utility E.ON’s acquisition of Innogy’s assets may reduce competition and lead to price hikes in Germany and other EU states, EU antitrust regulators warned on Thursday as they opened a probe into the deal.
E.ON is buying Innogy’s assets as part of an asset swap with Innogy’s owner RWE which recently won EU approval to purchase E.ON’s renewables and nuclear electricity generation units.
The European Commission cited deep concerns about the deal’s impact on competition in Germany, the Czech Republic, Slovakia and Hungary. It has opened an in-depth investigation, after E.ON and Innogy decided not to offer commitments during Brussels’ initial probe of the takeover.
Full Content: Reuters
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