Spain Takes 2nd Look At Gas Natural Merger

Law360, New York (November 11, 2008, 12:00 AM EST) -- Spain's competition authority has decided to probe deeper into a €16.8 billion ($21 billion) bid by the country's largest gas provider, Gas Natural SDG SA, to acquire Union Fenosa, Spain's third-largest electricity utility.

Citing concerns that the merger could concentrate too much of the country's electricity and natural gas markets, Spain's National Commission of the Competition opted to begin a second phase investigation into the deal Friday, according to the regulator.

The first stage of the investigation showed that the combination would likely mean the erasure...
To view the full article, register now.