Austria's Verbund wants to buy Kelag stake from cash-strapped Carinthia

July 31, 2015 7:57 AM

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VIENNA, July 31 Austrian utility Verbund is keen to take over smaller rival Kelag by buying out the stake of the country's Carinthia province, which is burdened by debt guarantees for defunct lender Hypo Alpe Adria.

Verbund already holds 35 percent of Kelag, while Carinthia owns more than half of a holding company that has a majority stake in the utility.

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