Monday, November 20, 2017

Engie Not Interested in Innogy

Posted by March 14, 2017

French gas and power group Engie is not interested in making a bid for German energy group Innogy, French BFM TV reported on its website, quoting a source close to Engie.

Innogy shares rose and Engie stock fell on Tuesday following a report by Bloomberg late on Monday saying Engie was weighing a bid for networks, renewables and retail group Innogy, in which German utility RWE (RWE.F) holds a 76.8 percent stake.
"We have no interest in being a minority shareholder in a big company that already has a controlling shareholder," BFM quoted the source as saying.
Engie declined to comment.

(Reporting by Geert De Clercq and Benjamin Mallet; Editing by Adrian Croft)

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