Endesa declines comment on Enel stake buy |
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Published
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Wed, 28 Feb 2007 10:21
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MADRID (AFX) - Endesa SA declined to comment on the news that Enel SpA has completed yesterday the purchase of a 9.99 pct stake, or 105.9 mln shares, in the Spanish utility at 39 eur per share.The investment totals 4.126 bln eur.Enel said the acquisition is part of its 'strategy aimed at strengthening the company's position on the European electricity market.This morning, the Italian group also confirmed reports late last night that it is considering increasing its Endesa stake to 24.99 pct.Enel's move comes in the middle of E.ON AG's 38.75 eur per share takeover bid for Endesa, whose shareholders are due to vote on lifting the 10 pct voting rights cap -- a key condition of E.ON's defensive -- at an EGM next month.The German power group has just announced it remains 'committed to' its offer for Endesa.afxmadrid@afxnews.comjdy/ped/ambCOPYRIGHTCopyright 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
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| Stock
Quotes * |
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NASDAQ
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1398.07 |
-137.50 (
-8.95 %)
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| SYMBOL (
2007-09-26 ) |
| LAST |
CHANGE
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HANSON
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12:41pm )
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1099.00 |
+3.00 (
0.27 %)
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AMVESCAP
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11:35am )
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607.50 |
+2.50 (
0.41 %)
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| SYMBOL (
2008-12-01 )
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| LAST |
CHANGE
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INTEL CP
(
4:00pm ) |
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12.56 |
-1.24 (
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| SYMBOL (
2007-09-04 )
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Enel to consider increasing Endesa stake to 24.99 pct 