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RWE raises possibility of selling E.ON stake after asset swap

RWE raises possibility of selling E.ON stake after asset swap
RWE CFO Markus Krebber attends the annual shareholders meeting of German power supplier RWE in Essen, Germany, April 26, 2018. REUTERS/Thilo Schmuelgen -
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MUNICH (Reuters) – German utility RWE <RWEG.DE> might look into selling its 16.7% stake in E.ON <EONGn.DE> after a complex asset swap with its rival, its chief financial officer said.

CFO Markus Krebber told Reuters that the windfall from any future sale of the stake in E.ON would be invested in existing businesses.

Once the deal with E.ON is completed, RWE will communicate a new strategy, he said.

“We will look carefully into our market positions in each country and how to strengthen these, and we have financial flexibility,” Krebber said.

To be successful in renewable energy it was important to be diversified across regions and technologies, he said.

(Reporting by Vera Eckert, editing by Joseph Nasr)

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