(Reuters) – U.S. federal energy regulators on Thursday gave BlackRock renewed permission to own major stakes of public utility companies, a win for the world’s top asset manager over concerns that it wields too much influence.
The decision by the Federal Energy Regulatory Commission included a concurring opinion by Mark Christie, its Republican Chairman. He wrote that while he shares concerns about BlackRock’s market power, public utilities need access to the capital controlled by large asset managers.
(Reporting by Ross Kerber)
