German energy production group E.ON has abandoned plans to invest in a 10-percent stake in Chinese group Beijing Datang Power Generation, daily newspaper Handlesblat reported on Wednesday.
The report drew on remarks made by E.ON head Ulrich Hartman to analysts. E.ON officials were not immediately available for comment.
The report quoted a statement from the Chinese parent company which said that E.ON Energie, the Germany subsidiary which had been due to buy the 9.54-percent stake, said that it would not receive approval from its board by the end of December, to make an offer.
Beijing Datang Power Generation is part of a Hong Kong conglomerate, New World Infrastructure.
E.ON energy was to have paid 168.73 million euros (147.60 million dollars) for the stake, the report said. A contract had been prepared but needed board approval and has now been suspended, New World Infrastructure said -- DUESSELDORF (AFP)
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