Judge E.ON bid on business merits, Merkel says

21st April 2006, Comments 0 comments

21 April 2006, BERLIN - German Chancellor Angela Merkel told Spanish Prime Minister Jose Luis Rodriguez Zapatero on Thursday that a bid by German energy giant E.ON to take over Spain's Endessa should be judged purely on business merits.

21 April 2006

BERLIN - German Chancellor Angela Merkel told Spanish Prime Minister Jose Luis Rodriguez Zapatero on Thursday that a bid by German energy giant E.ON to take over Spain's Endessa should be judged purely on business merits.

The Spanish government has been seeking to hinder the takeover of its national energy company by E.ON - a move which has triggered an investigation by the European Commission.

"It is a business decision and we expect it to be dealt with in this way," said Merkel at a news briefing with the Spanish leader after they held talks in Berlin.

Zapatero declined to make any climb-down from his previous opposition to E.ON's bid which was launched in February.

"Such takeover offers are always a source of tensions," he said.

A common European Union energy policy was "a long way off," said Zapatero, adding that only once such a policy was in place would such mega-takeovers in the energy sector cease to be a problem.

DPA

Subject: German news

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