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Vattenfall bids for Elsam

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01:41 CET+01:00
At a press conference in Copenhagen on Monday state energy company Vattenfall announced a bid to be the major shareholder in Denmark's largest electricity producer Elsam. The bid is worth around 19 billion crowns and if it is susccessful Vattenfall will own two thirds of the company, according to DI.

"This would create excellent opportunities for us to do business across the borders," says Vattenfall's group CEO Lars G Josefsson.

DI reports that the move poses a threat to the Danish state's attempt to create a Danish energy giant by merging Elsam with state oil and gas company Dong.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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