The Spanish Competition Authority clears its first big merger between the dominant gas supplier and the third largest electricity operator (Gas Natural / Union Fenosa)

On the 12 February 2009, following an in depth investigation, the Spanish Competition Commission (CNC) cleared its first big merger when it approved, subject to commitments, the merger between Gas Natural (GN), the dominant gas supplier and the Union Fenosa (UF), the third largest electricity operator in Spain. The merger follows the acquisition of Endesa by Enel and Acciona some months ago, and in its creation of a new Spanish multi utility company, represents a further step in the ongoing concentration of the Spanish energy market. In the past, any attempts to create an integrated entity in the Spanish electricity and gas markets, such as the attempted acquisition of Iberdrola by Endesa, or Gas Natural's bid for Iberdrola, were either systematically blocked, or else the conditions

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  • Simmons & Simmons (London)

Citation

Charles Bankes, The Spanish Competition Authority clears its first big merger between the dominant gas supplier and the third largest electricity operator (Gas Natural / Union Fenosa), 12 février 2009, e-Competitions February 2009, Art. N° 77276

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