Scottish Power and Ovo Energy in Merger Talks, Sky News Says, Citing Sources

-- Iberdrola-owned Scottish Power and larger rival Ovo Energy have begun preliminary talks about a merger that could create a company serving more than six million British households, Sky News reports, citing unnamed sources.

-- Ovo Energy would probably be the acquiring entity, with Iberdrola likely contributing cash and remaining as a shareholder in the enlarged group, according to Sky.

-- The potential merger would create the third-largest supplier behind British Gas and Octopus Energy, Sky News says.

-- Iberdrola, Scottish-Power and Ovo Energy declined to comment, Sky News says.

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(END) Dow Jones Newswires

06-30-25 0303ET