Spain Wants Power To Veto Enel Decisions

Law360, New York (April 20, 2007, 12:00 AM EDT) -- Italian power company Enel, a 25% stakeholder in Spanish energy provider Endesa, may not have as much control over the company as it would like. Spain’s energy regulator recommended that the Spanish government be given the power to veto any Enel decisions made regarding Endesa.

The National Energy Commission on Thursday advised the Spanish government that Enel’s request to increase its voting rights in Endesa only be approved if the government has the right to exercise a veto.

Enel has requested an increase in voting rights...
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