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
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Chamber of Commerce Sues to Overturn FTC Non-Compete Ban
Apr 24, 2024 by
CPI
FTC Chief Warns of Healthcare Price Fixing Risks Amid Tech Advancements
Apr 24, 2024 by
CPI
Amazon’s Investment in Anthropic Faces Antitrust Scrutiny
Apr 24, 2024 by
CPI
Italian Antitrust Authority Fines Amazon €10 Million for Unfair Trade Practices
Apr 24, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI