Will Gas Natural come through?
The war in Europe over business giants in the energy sector rages on and specifically whether governments are in their right to thwart the market for strategic reasons. One of the most telling examples of the flurry is the German utility company E.ON's bid for Spain's biggest utility firm Endesa, a bid which overmatched that of a another Spanish company's (Gas Natural) for Endesa. No one expects Gas Natural to win Endesa unless of course the iron fist of the state has someting to say, but perhaps Gas Natural will come through?
"Gas Natural issued strong figures on Wednesday, but they went unnoticed as everyone waited for its next move in Spain's drawn-out utility merger saga.
The Spanish gas supplier is expected to hold a board meeting next week to review its bid for Endesa, Spain's biggest electricity group, amid reports it will try to match a rival €29bn ($35bn) offer announced last week by Eon, the German utility."