VWAPY - Shell Renault considering stake in VW-backed Ionity - Reuters

3alexd/E+ via Getty Images Royal Dutch Shell ([[RDS.A]], [[RDS.B]]) and Renault (RNLSY) are interested in taking a stake in Volkswagen-backed (VWAGY) electric vehicle charging company Ionity, Reuters reports. Final bids for the 20%-25% stake, which is valued at €400M-€500M ($475M-$594M), are due in July, according to the report. For Shell, a stake in Ionity would further its aim of establishing itself as a major player in Europe's future electric vehicle charging network, Reuters says. Ionity has 348 stations in operation across Europe, with another 45 under construction. Shell "should generate impressive cash flow in the medium term while being able to revamp its portfolio well for the long term," The Value Portfolio writes in a bullish analysis posted recently on Seeking Alpha.

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Shell, Renault considering stake in VW-backed Ionity - Reuters