RWE denies approach from EDF over takeover

11th May 2007, Comments 0 comments

FRANKFURT, May 11, 2007 (AFP) - German energy company RWE denied on Friday that it had been approached by French electricty giant Electricite de France with a view to a takeover.

FRANKFURT, May 11, 2007 (AFP) - German energy company RWE denied on Friday that it had been approached by French electricty giant Electricite de France with a view to a takeover.

"There is no sign of a takeover offer from EDF for RWE," an RWE spokesman said.

The German government also denied earlier that it had been approached by EDF about taking over German energy company RWE.

"There has been no contact," an economy ministry spokesman said.

German regional radio station SWR had reported that EDF wanted to buy RWE, the country's second-largest utility, and in return would sell off its 45-percent stake in German electricty utility EnBW to avoid infringing competition rules.

RWE stock was up 3.76 percent on the rumours, trading at 80.90 euros at 0715 GMT.


Copyright AFP

Subject: French news

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