ENDESA's Comments on Spanish Ministry Cabinet's Decision
February 03 2006 - 1:08PM
Business Wire
In the wake of the Spanish cabinet's decision today to approve the
takeover of ENDESA (NYSE:ELE) by Gas Natural, and independent of
the Company's in-depth analysis of the ruling once it has been
officially communicated, our initial legal evaluation has concluded
that ENDESA should appeal this decision at the Supreme Court.
ENDESA believes that the conditions imposed, together with the poor
quality of Gas Natural's project, mean that the business
combination lacks strategic, economic and manufacturing rationale,
while by the same token jeopardising the initiative due to the
serious regulatory risk it entails. * This document may contain
certain forward-looking statements regarding anticipated financial
and operating results and statistics that are subject to risks and
uncertainties as well as to material risks, changes and other
factors which may be difficult to predict, including, without
limitation, those factors described in the Documento de Registro de
Acciones of Endesa filed within the Comision Nacional del Mercado
de Valores and in the Form 20-F of Endesa filed within the
Securities and Exchange Commission, both for the fiscal year ended
December 31, 2004. For all of these forward-looking statements, we
claim the protection of the safe harbour for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995.
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