What is the future for G-8 after talks with E.ON fail?
The negotiations between German concern E.ON Energie and the Treasury
Ministry over the purchase of a stake in the G-8 power group have come to an
end without an agreement. The major reason was that the investor was
offering a price far too low for the Treasury Ministry to accept. Unofficial
sources say E.ON offered euro 1.2 billion the for shares, while the stake
was valued at being worth nearer euro 1.7 billion. E.ON's exclusive
negotiating rights expired on Monday. Company spokesman Erwin Haydn said
that they are, "Still interested in further negotiations". The G-8 power
group has a 17% share of the national energy distribution market and has
power plants across the country. The Ministry can now cancel the tender or
approach another investor. Electrabel was tipped for this role, but for some
time there have been concerns that the company has lost their initial
interest in the tender bid. (Rzeczpospolita, p. B1; Prawo i Gospodarka, p.
3) P.W.
