Enel SpA Ratings Currently Unchanged On News Of Talks With Acciona About Potential Endesa Bid Mar 07
- ID: 1713173
- March 2007
- Standard & Poors
MILAN (Standard & Poor's) March 23, 2007--Standard & Poor's Ratings Services said today that its ratings and outlook on Italian utility Enel SpA (A+/Negative/A-1) are not immediately affected by the announcement that the company is in advanced negotiations with Spanish construction company Acciona S.A. regarding the possible launch of a joint tender offer for 100% of Spanish utility Endesa S.A. (A/Watch Neg/A-1). Enel currently owns about 10% of Endesa and has options to reach about 25% once certain regulatory approvals have been obtained. Together with Acciona's 21%, this leads to a prospective joint ownership interest of about 46%. No details on the potential bid have been released at this stage; Enel has only stated that its launch would be conditional...
Companies mentioned in this report are:
- Endesa S.A.
- E.ON SE
- Enel SpA
Action: General Comment
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Research type: News
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