TXU bought by German giants

GERMAN giants E.On have snapped up TXU for more than £1billion.The fallen energy giants confirmed today the company's retail and power generation arms had been sold for nearly £1.

GERMAN giants E.On have snapped up TXU for more than £1billion.

The fallen energy giants confirmed today the company's retail and power generation arms had been sold for nearly £1.4billion.

E.On already have a big presence in the UK market through their ownership of Powergen.

And it now seems certain many of TXU's Ipswich-based staff will be transferred to Powergen's Coventry HQ.

The fate of the company's Wherstead Park-based trading arm was left in the balance by today's deal as it was not included in the bit-part sale agreed by TXU's American owners.

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