Brussels, 31/05/2001 (Agence Europe) - The latest development in the EDF/Montedison case (that is to say, the acquisition of a stake by EDF in the Italian company through the buying of share on the market) seems to have moved towards a clarification.
In Paris, the French Secretary of State for Industry, Christian Perret, stated before the National Assembly that the government had asked EDF to limit to 20% its stake in Montedison, that is to say a minority stake and not a takeover. He added that the stake is situated in the context of EDF's industrial strategy;
In Brussels, the Competition Commissioner Mario Monti stated before a European Parliament committee that the EDF stake in Montedison is consistent, but is not a takeover. As a result, the procedures of the "mergers" regulation will not be initiated. This assessment could be deepened if new element justify it. The Commission is keeping an eye on the situation also from the point of view of the possible existence of State aids and it feels that the accelerated and complete liberalisation of the energy market would resolve the difficulties;
The Prime Minister Lionel Jospin, during his meeting, on Tuesday, with the European Commission President, confirmed that EDF would not exceed the 20% mark, but at the same time he: a) invited the Commission to assess the true opening of the energy markets and not only the theoretical opening. The French market is open to the proportion of 30%, and it is truly the case (EDF has already lost 70 major clients in its national market), while in other countries the opening is theoretically total, but in reality non-existent due to the barriers that remain; b) the defensive measures adopted by Italy and Spain. Mr Prodi answered that the Commission would fulfil in a rigorous manner its duties in this matter.