FRANKFURT (Reuters) - RWE (RWEG.DE) sees no negative impact should a planned retail joint venture of subsidiary Innogy (IGY.DE) and British peer SSE (SSE.L) fall through, Chief Financial Officer Markus Krebber told analysts on Wednesday.
Innogy and SSE last week said that they would have to renegotiate terms of the proposed venture, in which Innogy would own a 34.4 percent stake, stoking fears that the deal might eventually collapse.
The proposed venture has secured merger clearance by British regulators, suggesting Innogy’s British unit Npower could also merge with E.ON’s British retail unit if the deal with SSE falls through, Krebber said.
Under a proposed breakup deal, Innogy’s retail activities will end up with E.ON (EONGn.DE), which said it would not have a strategic interest in holding on to Innogy’s stake in the joint venture.
Reporting by Christoph Steitz; Editing by Michelle Martin