Reply to post: Re: No prosecutions then?

Shocked, I tell you. BT to write off £530m over 'improper' Italian accounts practices

Anonymous Coward
Anonymous Coward

Re: No prosecutions then?

I love it how the snopes link on the register references the register in its debunking. Specifically: http://www.theregister.co.uk/2003/06/18/powergen_denies_ties_with_powergenitalia/

But life imitates art: Powergen were bought by E.ON, and E.ON went on a mongo acquisition spree including a load of Italian assets. Almost all had to be sold at fire sale prices, with a huge writeoff for investors. So ultimately there was a a right cockup involving power in Italy.

You really, really wouldn't want to be on the long-suffering investors in E.ON. Every single major strategic decision by their board has been an epic failure.

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