June 19, 2017 / 10:46 AM / a month ago

Engie boss pleads with French govt for RWE tie-up -report

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PARIS, June 19 (Reuters) - Isabelle Kocher, head of the French utility Engie, is pleading with the new French government in favour of the tie-up she wants with Innogy, the renewables and grids arm of German power group RWE, a French media report said.

The report in La Lettre de l'Expansion newsletter came after sources familiar with the situation told Reuters in May that the two utilities were studying a deal under which RWE could swap its majority stake in Innogy for a minority stake in Engie.

An Engie-RWE alliance would represent a breakthrough as the first truly cross-border utility in Europe since the EU began pushing for a single energy market decades ago.

No active talks between the top executives of the firms are under way, but the two utilities are discussing options and scenarios with advisers and bankers, the sources said at the time.

Engie did not immediately respond to a request for comment on Monday.

In May, soon after President Emmanuel Macron was elected, a government source confirmed that tie-up talks were taking place. (Reporting by Andrew Callus; Editing by Sudip Kar-Gupta)

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