Alphavalue/DIVACONS | The Spanish utility, through its subsidiary Scottish Power, is in talks with OVO Energy for a possible merger of their energy supply businesses in the United Kingdom. If completed, this transaction would create the third-largest energy supplier in the country, with more than six million customers, behind only British Gas and Octopus Energy. Although the talks are at a very early stage, it is believed that Ovo could lead the combined company, while Iberdrola would contribute capital and maintain a significant shareholding. Ovo, for its part, is trying to raise £300 million to strengthen its position in the negotiations.
There is no certainty that the deal will be finalised, and any significant progress would take several months, especially considering the necessary regulatory reviews in the United Kingdom.
Meanwhile, Iberdrola has launched niba, its new 100% digital corporate start-up, focused on agility, the use of artificial intelligence (AI) and a strong customer focus. The initiative seeks to adapt to new market and consumer needs, the company said on Friday.
Iberdrola: Reduce, Target Price €16.9/share.
