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26

Suez Fights with Gas Natural for Acquiring Its Stake

Spanish energy sector regulator CNE is expected to authorise France's Suez plans to raise its stake in Gas Natural

Spanish energy sector regulator CNE is expected to authorise France's Suez plans to raise its stake in Gas Natural SDG SA to above 10 pct today.

Suez is currently awaiting the green light to raise its stake to 11.3 pct.

But Gas Natural core shareholder Repsol YPF SA, which holds a 30 pct stake, has already called on the CNE to oppose Suez' petition to raise its stake in the Catalan gas company.

Repsol YPF has asked the CNE to place conditions on Suez' stake hike plans and warned that, if the group is permitted to go ahead with the acquisition, it may lead to competition problems in Spain's gas market.