In Spain, GRUPO VILLAR MIR has, through its subsidiary FERROATLANTICA, made a public bid for a 25% stake in HIDROCANTABRICO, at 19 euro a share, or a total of 89.4 bn pesetas. The bid is dependent on securing at least 80% of the shares involved in the bid. FERROATLANTICA's bid should be backed by the German ENBW.