BlackRock (BLK) received renewed permission from the US Federal Energy Regulatory Commission to continue owning major stakes in public utility companies, confirming earlier reports to MT Newswires.
The company said it appreciated FERC's approval and would continue providing capital to the US energy sector on behalf of its clients.
Reuters had reported earlier that FERC permitted BlackRock to maintain its ownership stakes in public utility companies, with Chairman Mark Christie concurring in the decision while noting concerns about the company's market power.
FERC did not immediately respond to a request for comment from MT Newswires.
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