Abu Dhabi’s TAQA says not holding merger talks

Abu Dhabi National Energy Co (TAQA) said on Thursday that it was not holding merger talks.

The company “confirms that it is not engaged in merger discussions with any government or other entity”, it said in a brief statement to the bourse.

Sources familiar with the matter told Reuters this week that Abu Dhabi might merge its national energy company into another state-owned business to make the firm’s debts more manageable and try to turn around its performance.