In the latest instalment in the thriller which is the battle over Spanish electricity operator Endesa, the European Commission has given its blessing to a bid by Germany's E.on to take control of the energy company. The watchdog noted that in the predominantly national European energy market, E.on does not have any prior market presence in Spain and the transaction would not significantly impede effective competition on the market. The decision will not come as good news to the Spanish government which has reacted negatively to the proposed union. The government has been accused of protectionism by adopting a new law which gives its national energy commission the power to veto the bid in spite of receiving clearance from Brussels. The European Commission is currently asking hard questions from Spain about this move.
Power Giant E.on On the Doorstep to Spain