The Czech branch of innogy is being taken over by MVM Group, a Hungarian company that’s buying the firm from E.ON. at a price that’s not been made public. It’s the largest distributor of natural gas in the country with around 1.2 million customers and another 400,000 clients who buy electricity from it. It’s part of MVM’s plan to expand into Central Europe. “We believe that this transaction will increase the level of competition on the Czech energy market,” said MVM Group’s director Gyorgy Kobor. E.ON previously sold off some of its central heating business in Germany along with a portion of its retail electricity business in Hungary and has pulled out of reservations it had made for the construction of charging stations for electric vehicles along the German motorways.
