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Vattenfall looks to M&A in electric mobility push - CEO

Vattenfall looks to M&A in electric mobility push - CEO
FILE PHOTO: A Vattenfall cooling plant is seen in Berlin, Germany August 15, 2017. Picture taken August 15, 2017. REUTERS/Axel Schmidt   -   Copyright  AXEL SCHMIDT(Reuters)
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BERLIN (Reuters) – Swedish state-owned utility Vattenfall is considering acquisitions in its efforts to become one of Europe’s biggest operators of electric vehicle charging stations, its chief executive said.

Vattenfall currently operates more than 10,000 charging spots across Europe, most of which are in its home market and in the Netherlands, joining a large number of utility rivals that all hope to benefit from an expected rise in electric car sales.

In Germany, where the group makes more than a third of its underlying profit and has more than 3.6 million customers, the number of charging points stands at just 110, far behind local rivals Innogy and EnBW.

Acquisitions are a way for Vattenfall to accelerate growth in this field, Magnus Hall told Reuters at the annual Handelsblatt energy conference.

(Reporting by Chris Steitz, Vera Eckert, Tom Kaeckenhoff, Editing by Maria Sheahan)

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