Iberdrola Drilled By Antitrust Fine

Law360, New York (February 19, 2008, 12:00 AM EST) -- As Iberdrola SA attempts to move forward with a takeover bid, the Spanish Competition Commission has hit the energy Goliath with a €15.4 million fine for allegedly abusing its dominant position in the country's electricity marketplace.

The commission revealed the fine on Friday, indicating that the massive penalty was connected to Iberdrola's activities in the North Levante region in late 2004 and early 2005.

Antitrust regulators first started investigating Iberdrola after rival Endesa lodged a complaint about its primary foe and some suspect activities, according to...
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