Italian bank buys 10pc of Spanish energy giant

14th May 2007, Comments 0 comments

14 May 2007 , MADRID - The Italian Banca Monte dei Paschi bought EUR 105.8m shares in Endesa, Spain's biggest energy company.

14 May 2007

MADRID - The Italian Banca Monte dei Paschi bought EUR 105.8m shares in Endesa, Spain's biggest energy company.

The purchase represents 10 percent of the company, said the Spanish stock market regulator.

Endesa is currently in the midst of being taken over by the Italian utility Enel and the Spanish building company Acciona for EUR 41.3 per share or EUR 4.33bn.

It means the Italian bank becomes the third biggest shareholder in Endesa along with Caja Madrid and after Enel (24.9pc) and Acciona (21.03pc).

Enel, which said it had had nothing to do with the Italian bank's purchase of a slice of Endesa, presented an offer with Acciona for 100 percent of the Spanish energy company last month for EUR 43.726bn.

The two firms offer for the Spanish company has brought to an end a long, bitterly-fought battle with German energy giant E.ON for control of Endesa.

[Copyright EFE with Expatica]

Subject: Spanish news 

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