After vote, Vattenfall begins sale of Hamburg, Germany power grids

As a consequence of the referendum in September 2013, the city of Hamburg, Germany began talks with Swedish power company Vattenfall on a potential purchase of 100 percent of Vattenfall's electricity grid and district heating businesses in Hamburg.

"We are having constructive negotiations with representatives of the city of Hamburg and expect to finalize the negotiations within the next week. After that, the Hamburg Senate and our board need to decide. We will of course inform internally and externally as soon as we have concluded the negotiations, whatever the outcome may be," says Tuomo Hatakka, Head of Vattenfall Region Continental/U.K.

The negotiations on a potential take-over by the city are expected to be finalized by January 15, as this date is the official deadline to register for the tendering process for the electricity grid in Hamburg.

The negotiations with the city of Hamburg were initiated by the result of a public referendum in September last year, in which a majority of voters voted for the city of Hamburg to repurchase all its energy grids, presently operated by Vattenfall (electricity and district heating) and E.On (gas), with the city of Hamburg holding a 25.1 percent share.

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