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| Sunday, 20 January, 2002, 18:57 GMT German utility battle turns bitter The giant German utility, EON is to appeal for government help in its battle to buy Ruhrgas, EOn's chairman told a German Sunday newspaper. EON has confirmed that the German Cartel Office will block its attempts to buy a 6bn euro majority stake in Germany's dominant gas firm, which is 25% owned by BP. EON has been on an aggressive acquisition trail over the last year, including the purchase of the UK's Powergen. It is aiming to become a force in the global power industry. "We have the chance to put German companies into international important positions in electricity and gas," EON chairman Ulrich Hartmann was quoted as saying. The Cartel Office will officially present its findings on Monday. An appeal to the Economics Ministry would take another four months before a final decision could be made. |
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