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Lyonnaise, E.ON merger reports early

World Brief

Suez Lyonnaise des Eaux, which owns a 35.5% stake in the French TV network M6, said Thursday that press reports of a merger with German group E.ON were “premature.”

Gerard Mestrallet, chief of the French utilities group, was responding to an article in Thursday’s Financial Times claiming that the two were poised to create one of the world’s biggest utilities.

They had agreed a holding company structure, the paper reported, to oversee their water, oil and gas, electricity waste management and chemicals activities, which combined would be worth some $69 billion.

Despite Mestrallet’s comments, Suez Lyonnaise shares were down 4.23% on the Paris stock market by close of trading Thursday.

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