E.ON to Acquire Ovo, Creating UK's Largest Energy Supplier
German energy firm E.ON has agreed to acquire rival Ovo, a deal that will create one of Britain's largest energy suppliers. The acquisition is expected to significantly reshape the UK's energy market.
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E.ON agrees to buy Ovo in deal to create UK’s biggest energy supplier
Acquisition would result in combined company serving about 9.6 million households if given regulatory approval Business live – latest updates The German energy group E.ON has agreed to buy struggling UK rival Ovo in a deal that would create Britain’s biggest gas and electricity supplier. The combined company will serve about 9.6 million customers, overtaking the market leader, Octopus, which serves almost 8m households in the UK. Continue reading...
By Julia Kollewe
Read full article →E.On to buy rival Ovo to create UK energy supply giant
The firms did not disclose the value of the deal, although previous reports indicated that it could be as much as £600 million.
By Henry Saker-Clark
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