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Image header Agence Europe
Europe Daily Bulletin No. 9068
Contents Publication in full By article 19 / 39
GENERAL NEWS / (eu) eu/competition

Commission states it is not competent to rule on Endesa/Gas Natural merger - Decision lies with Spanish authorities

Brussels, 15/11/2005 (Agence Europe) - On Tuesday, the European Commission decided that the hostile takeover bid launched by Gas Natural, the largest gas group in Spain, for its fellow Spanish Endesa, did not come under its jurisdiction, given that the merger will not have sufficient implications for the Community market. It will therefore be up to the Spanish regulation authorities to take a decision on this plan. "Both Gas Natural and Endesa achieved at least 75% of their total turnover...

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