E.C. Dubs Spain’s E.On Restrictions Illegal

Law360, New York (August 25, 2006, 12:00 AM EDT) -- Railing against protectionism in European Union member states, regulators said Friday that conditions imposed by Spain on the proposed takeover of Spanish energy company Endesa by German utility E.On are illegal.

The European Commission said it had formally informed Spain that its restrictions violated Article 21 of the E.U. rules ensuring the free movement of capital, giving the country 10 days to respond to the warning.

If Spain does not respond to the warning by Sept. 4, the Commission will make a final ruling that the...
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