The German groups RWE and VEW have approved the practical arrangements for their merger. Under their agreement, RWE will buy VEW for around EUR 4 billion, forming a new venture that will be number three in Europe behind EDF (France) and ENEL (Italy) and with turnover of around EUR 43 billion. RWE will offer VEW shareholders 200 euros per share, either in cash or a share swap (of 5 RWE shares for 1 VEW share). VEW sharheolders will own 16.5% of the new venture and RWE 83.5%. The merger plan...