Spain challenges Brussels ruling on Endesa bid

1 December 2006

MADRID — The Spanish industry minister is to challenge Brussels’ ruling on the takeover bid for Endesa.

The European Commission said conditions set by Madrid for the German energy giant E.ON’s bid for Endesa were illegal.

But Joan Clos, industry minister, said Spain insists E.ON abides by conditions which include it must keep control of Spain’s biggest energy utility for ten years after it takes over the company.

Clos said Madrid would take the case all the way to the European Court of Justice.

[Copyright EFE with Expatica]

Subject: Spanish news