Eni Challenges Fenosa, Gas Natural Link-Up

Law360, New York (June 5, 2009, 12:00 AM EDT) -- Italian energy giant Eni SpA has reportedly appealed the Spanish National Competition Commission's approval of Gas Natural SDG SA's acquisition of Union Fenosa, in which Eni owns a significant stake.

Spanish newspaper Expansion reported Friday that the National Court of Spain, the Audiencia Nacional, has confirmed that Eni appealed the Spanish competition regulator's approval of the merger.

The Spanish newspaper reported that Eni, which owns half of Union Fenosa's gas unit Union Fenosa Gas, asserted a preemption right on the other half of that unit. That...
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