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MLex Comment: A Spanish tale - when politics and free market policies collide

By Mike Elkin ( September 4, 2006, 15:02 GMT | Comment) -- A year has passed since the first of two offers was lodged for Spanish electricity leader Endesa, and shareholders are no closer to choosing a bid than they are to throwing the switches in the power plants. Politics and legal battles prevail in this power play. And while Madrid may be ready to negotiate a compromise, the Commission understands it can't allow its merger rulings to be circumvented so easily.Madrid -- The Spanish government of Prime Minister José Luis Rodríguez Zapatero has lately put itself into an awkward position after quickly backing the initial bid last September for Endesa from Gas Natural, a Barcelona-based company....

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