The Madrid Commercial Court suspends the incumbent gas company’s public acquisition offer on a direct competitor on the basis of a potential infringement of Art. 81 EC (Gas Natural / Endesa)

On March 21st 2006, a Spanish commercial court temporarily suspended the unsolicited bid made by Gas Natural to acquire Endesa, while it investigates Endesa's allegation that Gas Natural infringed Article 81 by acting in agreement with Iberdrola to remove Endesa from the market by means of a public acquisition offer. The court's decision refers back to September 5th 2006, when Gas Natural, the first natural gas operator in Spain, announced a bid for the first electricity company in Spain, Endesa. That same day, Gas Natural declared that it had signed a purchase agreement with Iberdrola, the second electricity company in Spain, for

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Auteur

  • Compass Lexecon (Madrid)

Citation

Luis Agosti, The Madrid Commercial Court suspends the incumbent gas company’s public acquisition offer on a direct competitor on the basis of a potential infringement of Art. 81 EC (Gas Natural / Endesa), 21 mars 2006, e-Competitions March 2006, Art. N° 683

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