A sell off of almost 12% of the stock in Energie Baden-Wurttemberg (EnBW) by Deutsche Bank and HSBC Trinkaus & Burkhardt has seen the French giant Electricite de France (EdF) emerge with almost 45% of EnBW. With half the latest sale going to EdF, the remainder went to Oberschwabische Elektrizitatswerke (OEW), an alliance of nine German regional municipal services group. OEW now owns just over 40% of EnBW. While some reports have suggested local opposition will prevent EdF from compiling a majority stake in EnBW, the latest moves have, nonetheless, prompted fears that EdF will use its position to sell cheap nuclear generated energy into the German market.
EdF increases stake in EnBW
French play opens possibility for majority holding