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Engie not interested in Innogy: BFM TV, quoting source
March 14, 2017 / 4:37 PM / 9 months ago

Engie not interested in Innogy: BFM TV, quoting source

PARIS (Reuters) - French gas and power group Engie (ENGIE.PA) is not interested in making a bid for German energy group Innogy, French BFM TV reported on its website, quoting a source close to Engie.

The logo of French gas and power group Engie is seen at the CRIGEN, the Engie Group research and operational expertise center, in Saint-Denis near Paris, France, Saint-Denis, France, February 29, 2016. REUTERS/Jacky Naegelen

Innogy shares rose and Engie stock fell on Tuesday following a report by Bloomberg late on Monday saying Engie was weighing a bid for networks, renewables and retail group Innogy, in which German utility RWE holds a 76.8 percent stake.

    “We have no interest in being a minority shareholder in a big company that already has a controlling shareholder,” BFM quoted the source as saying.

    Engie declined to comment.

    Reporting by Geert De Clercq and Benjamin Mallet; Editing by Adrian Croft

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