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E.ON stock price slides after selling Innogy’s Czech retail business

By: Invezz

Shares of E.ON SE (EBR: EON), the Germany-based electric utility giant, slid 1% on Monday after the firm agreed to sell its Innogy SE’s entire electricity and gas retail business in the Czech Republic.  Fundamental analysis: Deal to be completed this year  E.ON SE has agreed to sell Innogy’s electricity and gas retail business to the Hungarian energy company MVM Group, according to the press release. E.ON has been forced to sell this business to win antitrust approval for the Innogy acquisition. Although the amount and other financial details remained undisclosed, Bloomberg reported last year that E.ON could receive around

The post E.ON stock price slides after selling Innogy’s Czech retail business appeared first on Invezz.

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