Dutch PM Urges Germany To Submit TenneT Bid

Dutch Prime Minister Mark Rutte has urged German Chancellor Olaf Scholz to submit a big for the German unit of TSO TenneT according to a letter seen by Reuters.

• The deal is expected to be valued between €20-25bn, sources told Reuters.
• "We are disappointed that despite numerous concrete indications and reassurances from various parts of your government that the German state is still planning on purchasing TenneT Germany, we have not received a concrete firm offer that could provide the basis for an agreement," Rutte wrote.
• "As we are now in the second year of negotiations, we, together with the Boards of TenneT, urge you to make such (a) convincing offer," he wrote.
• Germany’s vice chancellor economic minister Robert Habeck remains committed to takeover Dutch TSO TenneT, Rheinische Post reported last week.
• The Germany economy ministry, led by Robert Habeck from the Greens, approved the acquisition last November and discontent that the issue is being dragged out, the sources said.
• Germany has been negotiating since late 2022 on the purchase of the domestic business of Tennet. The government already holds minority stakes in TSOs 50Hertz and TransnetBW and plans to merge the grids and modernize them.
• Outstanding issues include the push from Germany’s finance minister Christian Lidner, liberal Free Democrats, to include private investors in the issue and reduce the state’s stake to 25% as soon as possible, according to a senior government official.
• Tennet last month month said it is exploring alternative structural solutions, including a sale to private investors or an IPO.