Edison to Buy E.On's Italian Unit
Edison, the Italian power company controlled by France's EDF, is set to enter private talks with E.On to buy the German group's Italian unit E.On Italia, three sources close to the matter said on Friday.
If talks are successful, Edison and E.On Italia would be merged together, the sources told Reuters.
Edison and E.On declined to comment.
The sources also said Italian regional utility A2A had presented a non-binding offer for E.On's hydropower assets and gas clients in Italy, while GDF Suez was interested in E.On's hydropower, solar and wind assets as well as its gas clients.
Burdened by 31.1 billion euros in net debt, a collapse in wholesale power prices and the demise of its traditional generation business, E.ON is exploring the sale of its country operations in Italy and Spain, sources have told Reuters.
(Reporting by Giancarlo Navach; Additional reporting by Jonathan Gould in Frankfurt; Editing by Michael Urquhart)