German utility company E.ON (EOAN.XE) Monday confirmed it is considering selling its gas transmission network.
German utility company E.ON (EOAN.XE) Monday confirmed it is considering
selling its gas transmission network.
"We are only the owners, so it's normal that we ask ourselves about the
strategic importance," chief executive Johannes Teyssen said in an article
published Monday in daily Frankfurter Allgemeine Zeitung.
Speculation on E.ON's possible plan to sell the 12,000-kilometer long network
emerged in mid-August, but the company declined to comment at the time.
On a company-wide basis, E.ON wants to reduce costs by cutting 11,000 jobs, and
is also considering closing several business locations and subsidiaries.
Teyssen told FAZ he can't imagine the company without natural gas unit
Ruhrgas's exploration and production unit, and its storage and gas trade units,
although it needed a new business structure to be more profitable.
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