German utilities giant E.ON will sell its entire end-customer electricity and gas business in the Czech Republic to Hungarian energy group MVM, E.ON said in a statement on Saturday, July 11.
MVM joined a shortlist of Czech groups bidding for Innogy’s nearly 1.6 million gas and electricity customers in the Czech Republic in May and emerged as the frontrunner, sources told Reuters at the end of June.
Czech-owned energy and investment groups EPH, KKCG, and Sev.en Energy also bid, sources had said.
For MVM, which is state-owned, the Czech deal is part of a push to expand into central and eastern Europe, its chief executive said in an interview in early June.
MVM, whose assets include Hungary’s nuclear power plant, gas-fired and solar power generation capacities, the Hungarian grid operation and interests in the gas market, announced on Saturday it aimed to boost competitiveness in the Czech market.
Full Content: Yahoo
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
YouTube CEO Argues Google’s Innovation, Not Monopoly, Drove Ad Tech Success
Sep 16, 2024 by
CPI
Samsung, Xiaomi Among Smartphone Brands Allegedly Involved in eCommerce Collusion In India
Sep 16, 2024 by
CPI
Appeals Court Sides with Exxon, Chevron in Price-Fixing Lawsuit
Sep 16, 2024 by
CPI
Nvidia Faces Antitrust Lawsuit in Strategic Filing Move by Xockets Inc.
Sep 16, 2024 by
CPI
UK Competition Regulator to Reform Pay System Amid Bias Allegations
Sep 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández