Published by Global Banking & Finance Review®
Posted on July 21, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleChancellor Merz confirms ongoing talks on TenneT's German stake, with potential investments from Norway's wealth fund.
BERLIN (Reuters) -German Chancellor Friedrich Merz said on Monday the government had not yet decided whether it would take a stake in the German division of state-owned Dutch power grid operator TenneT and was still in talks with the Netherlands.
The Netherlands said last month it would announce in September whether it would sell a minority stake in TenneT Germany or pursue a partial IPO, in what could be one of Europe's biggest deals in 2025.
The Dutch government embarked on a dual track process for TenneT Germany after a partial sale to German state lender KfW failed to materialise last June.
“The discussion within the federal government is currently ongoing and has not yet been concluded,” Merz said in a joint news conference with Norwegian Prime Minister Jonas Gahr Store.
Norway's vast sovereign wealth fund is considering a multi-billion dollar investment in TenneT Germany, German newspaper Handelsblatt wrote earlier this month, citing people familiar with the matter.
Asked whether he would support this, Store said the fund had already made "significant" investments in German companies.
"There are many opportunities in Germany to find companies to invest in", Store said.
(Reporting by Sarah MarshEditing by Marguerita Choy)
Chancellor Friedrich Merz stated that discussions within the federal government are ongoing and have not yet concluded regarding a potential stake in TenneT Germany.
Norway's vast sovereign wealth fund is reportedly considering a multi-billion dollar investment in TenneT Germany, as noted by German newspaper Handelsblatt.
The Dutch government had previously attempted a partial sale to German state lender KfW, but that deal did not materialize last June.
The Netherlands is expected to announce in September whether it will sell a minority stake in TenneT Germany or pursue a partial IPO.
Norwegian Prime Minister Jonas Gahr Store highlighted that there are many opportunities in Germany for finding companies to invest in, indicating a positive investment climate.
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