Reuters reported that RWE which already owns 55.26% in Elmu have options on the shares bought by WestLB in the Hungarian distributor.
RWE will reportedly bid for those shares if a public purchase offer issue arises. According to Hungarian regulatory laws a public purchase offer is mandatory on reaching a 66% stake.
Reuters noted that while RWE did not disclose the seller of the shares, the Budapest city council is planning to offload its 10.5% stake in Elmu. German utility EnBW holds a 26% stake in the Hungarian distribution firm.
