Spain's CNE to remove Enel's Viesgo as main operator in coming days - report |
|
|
|
Published
:
Thu, 08 Mar 2007 09:42
|
MADRID (AFX) - Energy sector watchdog CNE will remove Enel SpA's Viesgo unit from the list of main operators in Spain's electricity market, allowing the Italian utility to exercise full voting rights in Endesa SA, el Confidencial reported, citing unnamed, reliable sources.Under current regulations, no single company can have more than 3 pct stakes in two or more firms operating in the same market or sector. Enel owns 100 pct of Viesgo.This 3 pct cap has recently been lifted by the CNE, however, in the case of Actividades de Construccion y Servicios SA and its stake in Iberdrola SA. ACS also has a stake in Union Fenosa SA.The Spanish energy regulator's move on Viesgo is expected in the next few days, El Confidencial said, noting it means in general terms Enel, which has now built up a stake of around 22 pct in Endesa, will have the right to vote at the Spanish company's AGMs.afxmadrid@afxnews.comjdy/ms1COPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
|
|
|
|
Print this Story
Enel CEO says Endesa stake-building operation is 'friendly' 