France still trying to end Veolia, Suez dispute, says source
Reuters
Published Sep 26, 2020 15:44
PARIS (Reuters) - The French state is still trying to end disagreements between utilities Veolia (PA:VIE) and Suez (PA:SEVI) days ahead of a deadline, a source close to Finance Minister Bruno Le Maire said on Saturday.
Veolia last month offered to pay energy group Engie (PA:ENGIE) 2.9 billion euros (2.65 billion pounds) for a 29.9% stake in Suez, with a view to subsequently taking full control of its rival by buying up more shares, a move Suez views as hostile.
Veolia's offer remains valid until Sept. 30.
"There have been multiple conversations ... The goal remains to find a middle ground and to end the conflict, the source told Reuters.
The French state holds a 23.6% stake in Engie and has tried to ease tensions. Engie, which owns almost 32% of Suez, rejected Veolia's initial advance but has said it would consider a higher offer.
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Written By: Reuters
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