Breaking news ovo energy.

  • 10 August 2019
  • 3 replies

Userlevel 7
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  • Rocket Scientist
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Yes breaking news. The city expect ovo energy to announce any time now (before 8am monday) that they have agreed to purchase SSE retail business along with their 5 million or so customers. This would catapult them into the big boy leagues. With a price tag of 700 million or so will the customer pay a hefty price for this?
So will this create a flurry of mergers and takeovers of other energy suppliers, npower is up for sale so it wont be long before they get snapped up.
This does however blow my theory that BP would buy SSE or NPOWER with SHELL buying the other.

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All quiet on the Centrica/Ofgem Judicial review front, should be interesting...
Userlevel 7
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Sky News doesn't seem to think it will happen quite so soon, if at all:
"A transaction is not certain to be struck, but sources close to the situation said this weekend that it could be agreed in outline within weeks."
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They should confirm to the stock market what the situation is, if no deal done and ovo are not in a exclusive due diligence period then i think it will start a small bidding process as im sure others would also like the 5.7 million customers that would come with any deal.