The Year-Long Legal Dispute
Vattenfall wants to sell power in the Berlin Senate
The energy group Vattenfall offers the country, all of the shares of its own subsidiary stromnetz Berlin GmbH. What will be the conditions and what is the intended purchase price?
The energy group Vattenfall wants to end the year-long legal dispute to the Berlin power supply and the power grid of the capital to the Senate to sell.
The group offered all of its shares of its own subsidiary stromnetz Berlin GmbH, including infrastructure, IT systems and personnel, shared with Vattenfall. “We came to the conclusion that we need to find a way out of a hopeless Situation,” said the outgoing Vattenfall CEO Magnus Hall of the German press Agency. “It is not good, this uncertainty remains in all of our business activities, decisions and investments with us rumzuschleppen.”
To be made to the terms of and the proposed purchase price Hall first of all, there is no information. The Senate should strike, could be completed of the purchase from the point of view of the energy company already during the first half of the year 2021. The Berlin Senate would be closer to their goal of a large piece of The Land has been working for years to make privatisations of past decades to undo. Also, the power grid should again change in state hands.
Hall stressed that it was “a Signal that we need to rethink our business in Germany”. The Federal Republic of Germany remains the most important market for Vattenfall, “and we will continue to invest and our commitment to expand”.