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Radio France Internationale
Radio France Internationale
World
RFI

French utility giant Engie to buy leading UK electricity distributor

Engie Electricity UK Power Networks
The Engie headquarters in the La Defense business district in Paris © Lewis Joly/AP

French utility firm Engie has announced it will buy the British electricity distributor, UK Power Networks, for €10.5 billion as part of its strategy to weather variations in the energy market due to geopolitics.

Engie announced the acquisition during an earnings call, when it revised its outlook for the coming years upward.

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