The battle around HIDROCANTABRICO is intensifying: the largest German energy group RWE has in fact announced that it is "seriously considering" the possibility of taking a stake in the Spanish electricity operator. RWE could propose EUR 26 for each CANTABRICO share. The Spanish group is presently threatened by two public tender offerings, one from EDP - ELECTRICIDADE DE PORTUGAL associated with CAJASTUR, offering EUR 24 per share, and the other by FERROATLANTICA, offering EUR 19. See EI of 20 and 27 January 2001 and 30 September 2000.