VERBUND AG — M&A Activity 2005

Apr 22, 2005

News Details

Ad-hoc | 22 April 2005 15:26

VERBUND: Power market partnership only conceivable in a completely new way

Ad hoc announcement VERBUND: Power market partnership only conceivable in a completely new way Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— The fundamentally altered general conditions on the European and the Austrian power market as well as the critical judgement on the development of competition on the domestic power market by the federal competition authority and e-Control have made an implementation of the Austrian Power Solution (ÖSL) at this point of negotiations impossible. The report of the international Group of Consultants Booz Allen Hamilton confirms these facts. In view of this result, the management board of Verbund, a listed company, considering its legal responsibility towards the shareholders, is no longer able to conclude the Austrian Power Solution contract with Energie Allianz. Österreichische Elektrizitätswirtschafts AG Am Hof 6A 1010 Wien Austria ISIN: AT0000746409 WKN: 074640 Listed: Amtlicher Handel in Wien; Amtlicher Markt (General Standard) in Frankfurt; Freiverkehr in Berlin-Bremen und Stuttgart End of ad hoc announcement (c)DGAP 22.04.2005 221526 Apr 05