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E.On-RWE energy market ‘carveup’ should have been probed as single deal, German utilities tell EU court

By Andrew Boyce ( April 19, 2023, 15:00 GMT | Insight) -- E.On’s asset swap with RWE “carved up” the German energy market between two “national champions” and was wrongly approved by EU regulators who divided it up into “digestible” chunks, three German utilities told judges today. Two former rivals became “best friends forever” and “merged the competition away,” argued Christoph Schalast, representing three German utilities, on the second day of hearings against the European Commission's decision in 2019 to approve the deal.E.On’s asset swap with RWE “carved up” the German energy market between two “national champions” and was wrongly approved by EU regulators who divided it up into “digestible” chunks, three German utilities told judges today....

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