German energy group RWE eyeing rival EWE: report

ENERGY TECH

by Staff Writers
Berlin (AFP) Oct 13, 2007
German energy group RWE wants to carry out a hostile takeover of EWE, the country's fifth biggest energy company, the weekly magazine Der Spiegel said Saturday in an advance copy of an article.

"In recent weeks, there have already been the first contacts between the head of EWE, Werner Brinker, and (RWE's new chief executive Juergen) Grossmann," the magazine said in an article to be published on Monday.

It added that these contacts have yet to produce "concrete results."

Contacted by the magazine, Grossmann said only: "We will seize all reasonable growth opportunities."

Grossmann's predecessor Harry Roels was criticised for not being aggressive enough in pursuing acquisitions.

Spiegel also reported that RWE's big industrial customers want to challenge a deal struck in September between RWE and Germany's national competition watchdog after allegations of unfair pricing.

The compromise, whereby RWE agreed to auction large electricity volumes to industrial clients, ended a dispute between the watchdog over RWE's policy of passing on the cost of carbon dioxide emission certificates.

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ENERGY TECH

China, Japan meet on long-running East China Sea dispute

Beijing (AFP) Oct 11, 2007
Chinese and Japanese officials met in Beijing on Thursday for a fresh round of talks on resolving a dispute over rival claims in the energy-rich East China Sea, a government spokesman said.

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