AFX News has reported that, if the Brussels authorities find Endesa generates more than a third of its European revenues outside Spain, then any antitrust investigation will take place under the supervision of the EU. Otherwise, the takeover case is likely to be referred to the Spanish competition authorities primarily.
Meanwhile, Spanish newspaper La Gazeta de los Negocios has reported that Endesa claims electricity tariffs will rise if the takeover by Gas Natural is successful.
Endesa reportedly insists that the generation of a goodwill fund by the gas utility, coupled with the debt required to finance the deal, will compel Gas Natural to raise prices.
