European Commission considers Thames Water takeover bid
The European Commission has announced that it is seeking comments on the German power provider RWE AG’s takeover bid for Thames Water Plc.
The takeover would create the world’s third largest water company, a Thames Water spokesperson told edie, and is already under consultation by the Office of Water Services (Ofwat), who aim to ensure that the acquisition would not affect Thames Water’s ability to protect their customers’ interests. Comments can be submitted up until 4pm on Friday 20 October.
RWE AG has interests in power, civil engineering, construction and water assets in Berlin, and Thames Water offers significant opportunities for RWE to cross-sell services such as gas and electricity, and to obtain municipal water operations in Germany, it is reported in the October edition of Water and Waste Treatment. The deal will give Thames Water the financial muscle to expand globally.
The European Commission is accepting comments on its consultation from the public until 16 October, and has until 30 October to decide whether to approve the acquisition now or to conduct a four month investigation.
Copies of Ofwat’s consultation document, The proposed takeover of Thames Water plc by RWE AG – A consultation paper by the Office of Water Services, is available on internet, and requires Adobe Acrobat. It can also be found in the Ofwat library, telephone 0121 625 1373.