May 2, 2019 / 5:05 PM / 2 months ago

Brussels again suspends deadline on review of E.ON deal for Innogy assets

FILE PHOTO: Supervisory board member Karl-Ludwig Key (R) and Chief Executive of German utility E.ON Johannes Teyssen attend the annual shareholders meeting in Essen, Germany May 9, 2018. REUTERS/Wolfgang Rattay/File Photo

FRANKFURT (Reuters) - The European Commission has again suspended the deadline on its review of the planned takeover of Innogy’s network and retail assets by Germany’s E.ON, the watchdog said on its website on Thursday.

The antitrust arm of the European Union in March opened an in-depth investigation of the deal, part of an asset swap between E.ON and Innogy owner RWE, after concluding it could lead to price increases in Germany and elsewhere.

The regulator had only recently extended the review deadline to Aug. 13.

An E.ON spokesman said such a delay is normal in such a complex transaction and that E.ON will provide supporting documentation at the earliest opportunity, and still hopes to win clearance for the deal this year.

Reporting by Douglas Busvine; Editing by David Goodman

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