Zapatero may stop opposing German bid for Endesa

20th April 2006, Comments 0 comments

20 April 2006, BERLIN — Jose Luis Rodriguez Zapatero may not oppose the German energy giant E.ON's bid for Spanish electrical company Endesa during talks with the German chancellor Angela Merkel.

20 April 2006

BERLIN — Jose Luis Rodriguez Zapatero may not oppose the German energy giant E.ON's bid for Spanish electrical company Endesa during talks with the German chancellor Angela Merkel.

German media reports, quoting diplomatic sources, said Zapatero may end his opposition to the EUR 29 billion bid for the Spanish utility during a meeting in Berlin on Thursday.

Reports said he preferred to concentrate on the peace process with ETA than get more involved in the row which provoked censure for Spain from the European Commission.

Madrid was criticised as protectionist by the EC after it changed the powers of its own energy regulator after the German bid.

But the Spanish daily El Mundo also reported Merkel will try to avoid mention of the issue during the two leaders' meeting.

The Spanish energy giant Gas Natural made a counter offer for Endesa which has been supported by the Spanish government, but strongly opposed by Endesa.

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Subject: Spanish news

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