Hong Kong billionaire Li Ka-shing is poised to make a GBP3.5bn ($5.6bn)pound offer to E.ON for Britain's second-largest electricity distribution network.
Li Ka-Shing and his investment group Cheung Kong paid GBP5.8bn for the network arm of EDF last year. The Sunday Times said Cheung Kong approached E.ON late last year about a bid and has hired Deutsche Bank to advise.
Media reports have previously suggested that Germany's E.ON held talks with a group of investors including the Abu Dhabi Investment Authority, the Canada Pension Plan and Australian Bank Macquarie, according to Reuters.
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