Utility RWE AG (RWE.XE) is ready to relinquish a large part of its gas network as a concession to end an antitrust case with the European Union, Handelsblatt reports Wednesday, citing sources.
RWE is talking to the E.U. about giving up its overland gas transport lines; in return, the E.U. would drop proceedings against RWE.
According to the paper, while talks haven't concluded, they are at an advanced stage. The E.U. began looking at RWE's operations about a year ago, claiming the company puts competitors at a disadvantage in accessing its gas network in North Rhine-Westphalia. RWE has denied the claims.
An RWE spokeswoman declined to comment. Since the probe began last year, the E.U. commission has sought information on a number of issues, all of which have been clarified, she noted.