Further fuelling the fire of merger speculation in the European energy market, reports have emerged that La Caixa may be preparing to claim a stake in Endesa, while Endesa pursuer E.ON has again been linked to a possible ScottishPower buy.
AFX News cites a report from El Confidencial, which claims that La Caixa could be planning to acquire 10% of Spanish power utility Endesa. According to AFX, La Caixa and Endesa have kept talks open ever since Gas Natural tabled its bid for the power firm last September.
Meanwhile, following news that Spanish energy and construction company Acciona has claimed a 10% stake of Endesa for itself, rumors have resurfaced that E.ON, which is battling it out with Gas Natural for Endesa, could be about to return to pursuing a takeover of ScottishPower. According to The Times, ScottishPower investors are of the opinion that, now that an Endesa-E.ON tie-up is less likely to occur, the German energy titan could turn its attention to ScottishPower once again.