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CNC Document: Resolution - Gas Natural/Unión Fenosa [launch of Phase II merger review]

( November 28, 2008, 12:31 GMT | Official Statement) -- ****************************************MLex Summary: Spain's Comisión Nacional de la Competencia (CNC) has published the full resolution which sent Gas Natural's planned takeover of rival Unión Fenosa to a second phase, announced on 7 November. The document outlines the competition authority's concerns and the consequences of certain overlaps should there be a merger of Spain's largest natural gas provider and the country's third-largest utility. Among other dangers highlighted in the report, a merger would eliminate Unión Fenosa as a rival in the gas market and Gas Natural in the electricity sector. Combined, Gas Natural/Unión Fenosa would control a near-monopoly in the gas market....

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