Spanish energy and construction group Acciona has denied that it acted unlawfully by making a joint bid with Italian utility Eni for Spain's Endesa. The allegation was made by Manuel Conthe, former president of Spain's national securities market commission, in his resignation speech.
<p>Mr Conthe is reported to have accused Acciona of acting illegally by making a rival joint bid for Endesa before German utility E.ON's tender had expired, a move which is prohibited by Spanish law. According to AFX News, Mr Conthe gave the reason for his departure as being the lack of support he received from the market commission in reprimanding Acciona for its actions. <br /><br />Acciona has, however, issued a statement in which the company said that it reaffirms, once again, that all of its actions were legal, that they are supported by the most authoritative legal opinion in Spain and other countries, and that they have been ratified by the board of the national securities market commission.<br /><br />The company went on to state: Acciona's decisions were adopted solely and purely in its shareholders' interests and with a view to long-term value creation for the company. Acciona added that its actions were also in the interest of Endesa's shareholders, as its joint bid with Eni raised the buyout offer to E41 per share. <br /><br />Acciona concluded its rebuttal of Mr Conthe's claims by reiterating its commitment to leading a sound long-term Spanish project for Endesa, both in Spain and internationally, in order to reaffirm and consolidate Endesa's strategic position in the world energy market.</p>