EDF plays down talk of bid for Iberdrola

7th February 2008, Comments 0 comments

French energy giant EDF on Wednesday sought to keep in check speculation that it is preparing a takeover bid for Spanish electricity supplier Iberdrola,

7 February 2008

MADRID - French energy giant EDF on Wednesday sought to keep in check speculation that it is preparing a takeover bid for Spanish electricity supplier Iberdrola, confirming that it is in talks with "agents" in the Spanish energy sector but saying that it has yet to make any firm decisions.

"EDF is in regular contact with many energy sector agents, notably in Spain," a spokesperson for the state-controlled group said. "However, EDF has yet to make any decision about a possible entry into the Spanish market."

The confirmation of the company's interest in the Spanish electricity sector comes days after EDF chairman and CEO Pierre Gadonneix noted that any takeover of Iberdrola could take "18 months" to complete.

[Copyright EL PAÍS / ANGELES ESPINOSA 2008]

Subject: Spanish news

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