Iride's board to discuss tie-up today - report |
|
|
|
Published
:
Wed, 14 Nov 2007 09:24
|
MILAN (Thomson Financial) - Iride SpA's board is expected to discuss possible tie-ups today, according to the daily La Stampa, adding that the utility's advisor Mediobanca SpA is advocating a linkup with Hera SpA.The newspaper added that Iride's official line is that the board will only examine third quarter results.However, Iride's preference for Hera is hindered by the wish of Bologna's mayor Sergio Cofferati to organise a three-way merger including the Roman utility Acea SpA, the newspaper said.This has prompted Iride to explore the possibility of merging with A2A, the utility company that will result from the merger of AEM SpA and ASM Brescia SpA on Jan 1, 2008, it added.However, a merger with A2A would dilute Iride's main shareholders, the cities of Genoa and Turin, too much, so it is likely that if a tie-up with Hera is not feasible, Iride will aim for an alliance with Enia SpA, La Stampa said.philip.webster@thomson.compw/ajbCOPYRIGHTCopyright 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.
|
|
|
|
Print this Story
Hera's main shareholders make no decision on possible tie-up with Iride, Acea 