EU Court Chides Spain Again On Takeover Policy

Law360, New York (July 17, 2008, 12:00 AM EDT) -- Echoing a ruling from March, the European Court of Justice said Thursday that Spain had broken European Union law by placing restrictions on a German energy company that sought to take over a Spanish company.

By ordering bids for the nation's energy companies to be cleared by Spain's energy commission, CNE, Spain violated an EU law that gives companies the right to invest anywhere in the union's 27 nations, the court said.

“By making the acquisition of shareholdings in undertakings in the energy sector and of...
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