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44

France Won't Give its Suez gas Firm to Italy

Loos said any such move by Enel "would seem very risky"

French Industry Minister Francois Loos said on Wednesday that Italian electricity company Enel has no chance to merge with French energy giant Suez.

"Today, there is only one project on the table: the merger between Gaz de France and Suez," the minister said.

Loos was responding to Italian news reports last week that Enel was considering a bid of up to 50 billion euros for Suez.

Loos said any such move by Enel "would seem very risky."

Suez and GDF announced plans to merge last month in a statement. The two companies said their merger would lead to "zero job loss."

The combination of the two giants will cerate one of the largest energy groups in the world, worth more than 70 billion euros with the French state remaining the largest stake.