OREANDA-NEWS. March 20, 2012. Chinese clean energy provider ENN Group won't push up its offer price in its acquisition bid for natural gas services operator China Gas Holdings Limited, despite the deadlock in negotiations, Wang Yusuo, chairman of ENN Group said, Global Times reported. Since December, ENN Group, in cooperation with China Petrochemaical Corporation, has been trying to acquire China Gas, which has a well-established nationwide natural gas distribution network.

Wang said China Gas would see profits grow 30 percent if ENN Group succeeds in the acquisition.

The price offered by ENN Group underestimates the company's value, China Gas said, the newspaper reported.