EU suspects rules broken over Endesa bid

21st September 2007, Comments 0 comments

21 September 2007, BRUSSELS - The European Commission suspects that Spain broke EU rules in setting conditions for the sale of Spanish power company Endesa to Italy's Enel and Spanish construction group Acciona, a spokesman said on Friday.

21 September 2007

BRUSSELS - The European Commission suspects that Spain broke EU rules in setting conditions for the sale of Spanish power company Endesa to Italy's Enel and Spanish construction group Acciona, a spokesman said on Friday.

According to the EU executive's preliminary conclusions, the Spanish measures appear to breach EU rules on "free movement of capital and freedom of establishment and that one of these conditions also violates the rules on free movement of goods," Commission spokesman Jonathan Todd said.

Madrid has been notified of the Commission's position and has 30 days to explain its actions. There was no immediate reaction from the Spanish government.

(Copyright AFP with Expatica)

Subject: Spanish news

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