The administrative councils of the Spanish groups ENDESA and IBERDROLA have approved the merger of the two companies that would create one of the five largest electricity groups in the world. This operation will be carried out through a share swap on the basis of 18 ENDESA shares and 25 Pesetas for 23 IBERDROLA shares. This plan will place the new company, named ENDESA IBERDROLA, at the first position for the number of clients and the fourth position for its production capacity with a...