You are here: Home Breaking news Iberdrola files new complaint to Brussels over EDF
Document Actions

Iberdrola files new complaint to Brussels over EDF

19 March 2008, 13:24 CET

(MADRID) - Spanish energy group Iberdrola said Tuesday it had filed a new complaint with the European Commission over France's support for power giant EDF in its rumoured bid to win control of the company.

"Iberdrola condemns France in Brussels for giving state aid to EDF valued at more than 5.0 billion euros linked to pensions," the company said in a statement.

Iberdrola also complained to Brussels over EDF in late February.

Spain's second-largest power group argues that France contravenes European Union laws through its control of EDF and discourages any potential investor in the company.

The French government holds 85 percent of EDF, of which 70 percent is excluded from the stock market.

EDF has said it has been in contact with Spanish construction group ACS, the biggest shareholder in Iberdrola.

But last month the chairman of the Spanish utility said EDF would not be welcome as a shareholder in the firm, which is also the world's largest owner of wind-energy parks.

"It has been made clear that EDF is not welcome from a political, social, union, territorial or shareholder point of view," Ignacio Sanchez Galan said, charging that the French government "thinks France is for the French ... and everything else as well."

Text and Picture Copyright 2008 AFP. All other Copyright 2008 EUbusiness Ltd. All rights reserved. This material is intended solely for personal use. Any other reproduction, publication or redistribution of this material without the written agreement of the copyright owner is strictly forbidden and any breach of copyright will be considered actionable.




Cache EUB's Breaking News Portlet as HTML
Find an office in Europe
Instant Offices - find office space in Europe
Advertise on EUbusiness
Cache EUB's Upcoming Events Portlet as HTML
Text links
Text links
Your link here