EU Gives Spain One Month To Lift Endesa Conditions

Law360, New York (December 5, 2007, 12:00 AM EST) -- The European Commission has given the Spanish government one month to lift some of the conditions placed on the acquisition of energy company Endesa SA by rival companies Enel and Acciona, claiming that the conditions do not comply with European Union law.

Regulators said on Wednesday that a number of conditions imposed on the takeover by Spain's National Energy Commission violate merger regulations and must be removed by early January.

“The European Commission has decided that Spain has violated Article 21 of the EU merger regulation...
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