Spain's CNE halts Suez moves in Gas Natural until Gaz de France merger clarified |
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Published
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Sun, 14 Oct 2007 20:53
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MADRID (Thomson Financial) - Spain energy sector regulator CNE plans to put the breaks on Suez increasing its stake in Gas Natural SDG SA until the French energy group's merger project with Gaz de France is clarified, Expansion reported, citing unnamed sources close the CNE's board.The board is due to meet on Tuesday to analyse Suez's position in Gas Natural. Suez is currently awaiting the green light to raise its stake to 11.4 pct.The request was made in June, ahead of the announced merger between Suez and Gaz de France, which 'creates a whole different picture,' the sources were cited as saying.According to Expansion, the CNE will condition Suez's holding over 10 pct of Gas Natural on the merger developments.The Catalan gas group and core shareholder Repsol YPF SA have already lodged complaints with the CNE over Suez's plans.tfn.europemadrid@thomson.comjdy/jagCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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GDF-Suez merger may be delayed as govt hesitates on privatisation law - report 