Brussels, 30/01/2001 (Agence Europe) - The public bid that the Portuguese group Electricidade de Portugal (EDP) made for its Spanish counterpart Hidrocantabrico, will doubtless have to be notified to the European Commission and obtain the latter's approval before succeeding, says the spokesperson for trade Amelia Torres. The EDP group, allied to the Spanish bank of Cajastur, had in fact rendered public last Thursday a joint bid for a 100% stake in Hidrocantabrico (for the details, see EUROPE of 27 January, p.18). "According to the first elements at our disposal, this operation is of a Community dimension", Ms. Torres added, "as the turnover of these companies seems to exceed the threshold set by Regulation 21 on mergers". This Regulation delegates to the Commission exclusive competency in authorising mergers, acquisitions, public tenders and other operations of a European dimension and thus obliges the actors concerned to notify their operation within seven days following their decision. The spokesperson stipulates that should the Spanish government intend blocking this operation or influence its outcome, it will have to "explain to the Commission the legitimate interests it is defending". She was referring to a speech by the Spanish Minister of the Economy, Rodrigo Rato, who spoke of "difficulties" that the operation could run up against due to the presence of public capital in the shareholding of EDP. According to the regulation, a Member State has the right to decide for or against a merger or takeover operation if "legitimate interests" are at stake (plurality of the media, public safety, safeguard of prudential rules in the financial sector). If other interests come into play, the Spanish Government will have to notify the Commission of their nature, and the latter will have a month in which to decide.