“Some municipal shareholders in Germany's RWE won't take part in innogy listing”
Reuters
Several municipal shareholders of utility RWE – among them Dortmund and Essen – will not invest in the company’s renewable subsidiary innogy at the time of its initial public offering (IPO), according to news agency Reuters. “As a provider of jobs in the region, local municipalities, which hold about 24 percent of [RWE], have an interest in its survival, making a decision to sell RWE shares to buy innogy stock difficult,” writes Reuters. The municipalities did not rule out investing later on.
Read the article in English here.
Also read the CLEW factsheet RWE’s plans for new renewable subsidiary for background.
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