Mississippi rejects Entergy grid transfer to ITC Holdings

HOUSTON Tue Dec 10, 2013 12:11pm EST

HOUSTON Dec 10 (Reuters) - The Mississippi Public Service Commission on Tuesday voted to deny Entergy Corp's deal to divest its transmission operation to ITC Holdings in a transaction valued at $1.78 billion.

The transaction is a spin-off and merger of Entergy's 15,400-mile transmission network serving parts of Arkansas, Louisiana, Mississippi and Texas.

The deal has been approved by federal regulators and ITC shareholders, but had faced opposition from state regulators in several states.

The Mississippi PSC is the first state to deny the transaction.

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