Enel increases Endesa stake to 21.57 percent
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Italian energy group Enel said on Thursday that it had agreed to buy an additional 11.58 percent of Spanish peer Endesa, meaning the Italian company now controls a 21.57-percent stake.
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The outcome of the political tug-of-war over plans by German energy giant E.ON to take over Spanish electricity supplier Endesa will be clear by the end of the month, Finance Minister Pedro Solbes said.
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Banco Santander Central Hispano, Spain's leading bank, said it had raised its stake in Auna, the country's second-largest telecommunications group, to 32.08 percent from 27.34 percent.
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Italian electricity group Enel has bought 10 percent of Spanish utility Endesa and wants up to 24.99 percent of the company under a plan that appears to enjoy political support in Madrid and Rome.
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The Slovak government agreed Wednesday to start negotiations with Italy's state-controlled Enel SpA for a sale of a 66 percent stake in Slovakia's state power generation company Slovenske Elektrarne.
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Acciona, a Spanish builder, bought 10 percent of Endesa, the countryÂs biggest power company, for 3.4 billion euros ($4.3 billion), throwing a new twist into a takeover battle for Endesa. Acciona said it did not plan to make a takeover bid, but it did not rule out increasing its stake. The 10 percent share matches that of EndesaÂs largest shareholder, Caja Madrid. Endesa is the target of competing takeover bids from E.On of Germany and Gas Natural of Spain. The price Acciona paid for its stake, 32 euros a share, is 26 percent more than E.OnÂs bid, a factor that might force E.On to raise its bid or to withdraw because of the high price, analysts said.
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Endesa, the biggest Spanish power company, posted a 5.1-percent rise in net profit last year although earnings from domestic electricity business were weak.
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German energy giant E.ON has said it still wanted to acquire Spanish electricity provider Endesa despite a surprise move by Acciona, a public works company, to acquire 10 percent of Endesa's capital.
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UK engineer and project manager Amec Plc   AMEC.L on Thursday its first-half underlying profit had risen   21 percent and it expected to make good progress in 2007.
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UK's biggest energy provider announces price rise for gas and electricity customers
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The investor Joseph Lewis disclosed that he had increased his stake in Bear Stearns to 9.57 percent.
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Bulgaria's National Bank said it was raising its base interest rate to 2.37% from 2.36% effective Wednesday.
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European equity markets rose to fresh six-year highs on Tuesday, with Italy's Capitalia leading banks higher after Spain's Santander was reported to be poised to raise its stake to around 5 per cent.
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The chief executive of German utility EON, Wulf Bernotat, has expressed satisfaction with market reception to his firm's takeover offer of more than 41 billion euros (55 billion dollars) for Endesa.
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British group Scottish Power accepted a takeover bid worth 11.6 billion pounds (17.15 billion euros, 22.55 billion dollars) from Spain's second-biggest power company Iberdrola, a move that is set to create Europe's third biggest utility group.
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Northern Ireland Electricity and its southern counterpart ESB have made an investment of 19.6mn($24.3m), including 6.5m of European Regional Development Fund support, in the interconnectors which will increase ...
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LONDON: US sports tycoon Malcolm Glazer has raised his stake in Manchester United Plc to 27.63% from 25.3%, the Premier League club said yesterday, heightening speculation that he will bid for them.