EC approves E.ON Czech's acquisition of utility Prazska Plynarenska.

By bne IntelliNews October 15, 2010
The European Commission (EC) approved the potential acquisition of Prague's gas distributor Prazska Plynarenska (PP) by gas company E.ON Czech Holding, the CIA news agency reported. It was concluded that the acquisition would not hamper the competition on the relevant market, as E.ON has already sold its assets on the local gas and electricity markets. At the end of September, E.ON sold its 19.73% stake in regional heating company Teplarna Ceske Budejovice to Lama Investment. According to earlier reports by daily E15, E.ON spokesperson Vladimir Vacha said that the change in the ownership structure of PP would not induce changes in the company's operations. E.ON currently controls 49.35% of PP, while the Prague city council, through its company Prazska Plynarenska Holding, controls 50.2% in PP.

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