Spain wants peace with Germany over Endesa

5th September 2006, Comments 0 comments

5 September 2006, MADRID — Jose Luis Rodriguez Zapatero was reported on Tuesday to be seeking a solution to the row over the takeover of Spanish electricity giant Endesa.

5 September 2006

MADRID — Jose Luis Rodriguez Zapatero was reported on Tuesday to  be seeking a solution to the row over the takeover of Spanish electricity giant Endesa.

Zapatero wants to end the matter before he holds talks with the German chancellor Angela Merkel on 12 September.

A political row blew up over German energy firm E.ON's EUR 29.9 billion bid for Endesa.

Spain has been reprimanded by the European Commission for breaking competition rules when it tried to make it more difficult for E.ON to takeover Endesa.

Madrid favoured a rival, but lower, bid by the Spanish company, Gas Natural.

The Spanish daily El Pais reported Joan Clos, the new industry minister, had revealed Zapatero is anxious to end the saga.

However, the outgoing industry minister Jose Montilla said no talks were taking place, apparently contradicting statements of Clos.

[Copyright EFE with Expatica]

Subject: Spanish news 

 

0 Comments To This Article