Under the EU Merger Regulation, the European Commission has approved the acquisition of innogy Česká republika a.s. (‘iCR’) by the Hungarian energy group MVM Magyar Villamos Művek Zártkörűen Működő Részvénytársaság (‘MVM’). iCR is active in the electricity and gas retail business in the Czech Republic, combined with some additional non-core activities related to energy generation, wholesale and distribution. MVM is a state-owned vertically integrated energy group whose portfolio covers the entire Hungarian energy system. Its main activities include heat generation, electricity trading, gas trading and storage, transmission system operation, wholesale and retail supply of gas and electricity, district heating, and telecommunication services.
