Spain Won’t Back Down On Endesa Bid: Report

Law360, New York (January 19, 2007, 12:00 AM EST) -- Defying the European Union, the Spanish government has reportedly refused to rescind the conditions that it has imposed on the merger of energy companies E.On AG and Endesa SA, the country’s largest electricity producer.

The deadline for the Spanish government to retract the measures is Friday, Jan. 19 at midnight, but various press reports have already indicated that the Industry Ministry has no intention of following the E.U.’s orders.

"We believe that the conditions conform to European norms, that they are legal," said a spokesperson for...
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