A state-owned Dutch company that is the biggest electricity grid operator in Germany said Thursday that talks on selling its German business to the government in Berlin have been terminated due to the administration's budget constraints.

TenneT, one of four transmission network operators in Germany, announced plans for the talks in February 2023. At the time, it said it needed a "structural solution" to funding needs for its German business as the grid is bolstered to handle the transition to renewable energy, which it put at about 15 billion euros ($16.1 billion).