capital · May 16, 2026
E.On Acquires OVO Energy in May 2026 Consolidation Move
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E.On announced the acquisition of OVO Energy in May 2026. The deal valuation fell below the 2019 level when Mitsubishi acquired a 20 percent stake for more than £200 million. OVO had operated as a challenger supplier since its founding. The transaction increases market concentration beyond levels seen in 2002.
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