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Undersea cable linking German and Norwegian power networks is switched on
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Germany, Norway flip switch on $2 4B undersea energy link
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Germany, Norway flip switch on $2 4B undersea energy link
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4 Min Read
FRANKFURT (Reuters) -Germany’s two biggest listed landlords Vonovia and Deutsche Wohnen have agreed to join forces in a 18 billion-euro ($22 billion) deal that risks stoking tensions over affordable housing in the run-up to general elections in September.
FILE PHOTO: An office building of the German property group Deutsche Wohnen is pictured in Berlin, Germany June 2, 2020. REUTERS/Fabrizio Bensch/File Photo
The country’s biggest merger this year, which will create a European real estate giant with 550,000 apartments, faces criticism in Berlin, where tenant rights and rising rents are a contentious issue.
Analysts say the transaction - the largest European real estate deal on record, Refinitiv data show, and Vonovia’s third attempt to swallow Deutsche Wohnen - should encounter few antitrust concerns in a fragmented market.