The Spanish Government is compelled to modify the divestitures conditions imposed by its Energy Regulator to clear a merger in the electricity sector following a decision from the EC Commission (E.ON / Endesa)

On 26 September 2006 the European Commission (Commission) ruled against the decision of the Spanish energy regulator (Comisión Nacional de la Energía or CNE) granting clearance to E.ON's takeover bid for Endesa subject to a number of conditions, on the grounds of a breach of Article 21 of Council Regulation (EC) n° 139/2004, of 20 January 2004, on the control of concentrations between undertakings (OJUE L 24, 29 january 2004, p. 1-22 ; ECMR). The Commission found that eighteen of the nineteen conditions are illegal. On 6 November 2006, the Spanish government has modified the conditions attached to the CNE decision, by reducing the scope of the divestitures imposed on E.ON as precondition to the acquisition. The Commission has regarded the measures adopted to empower the CNE to review

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Authors

  • Callol, Coca & Asociados (Madrid)
  • Callol, Coca & Asociados (Madrid)

Quotation

Pedro Callol, Jorge Manzarbeitia, The Spanish Government is compelled to modify the divestitures conditions imposed by its Energy Regulator to clear a merger in the electricity sector following a decision from the EC Commission (E.ON / Endesa), 27 July 2006, e-Competitions Bulletin Energy & Mergers, Art. N° 12555

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