Spain Violated Law In Enel Takeover: EU

Law360, New York (September 21, 2007, 12:00 AM EDT) -- The Spanish government's decision to impose conditions on the proposed merger of energy companies Enel SA, Acconia SA and Endesa SA violated European Commission competition laws, regulators have concluded.

The European Commission said on Friday that the conditions imposed on the deal by the National Energy Commission violate Article 21 of the EU merger regulation.

“Following an initial assessment, the commission has reached the preliminary conclusion that these conditions violate the EC Treaty’s rules on free movement of capital (Article 56) and freedom of establishment (Article...
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