And you buy endesa

E.on increases the proposal for the company to $ 56 billion for the Spanish energy company Endesa is gaining momentum. Its main participants - the German E.on and the Italian ENEL in tandem with the Spanish Acciona - are increasingly increasing their proposals, as a result of which what is happening more and more resembles the auction. Yesterday, the German concern E.on for the third time increased his offer - he is ready to pay 40 euros for the Endesa action. Thus, the Germans estimate the Spanish company at 42.3 billion euros (about $ 56 billion).

Initially, E.on offered Endesa 27.5 euros per share. It turns out that over a year with a small cost of the company, almost doubled.

Competitors E.on - ENEL and ACCONA - are ready to offer at least 41 euros for one share of Endesa. A message about this appeared in the Italian press at the end of last week and was confirmed by ENEL yesterday. Now the construction company Acciona owns 21% of Endesa shares, and Enel - about 25%. The companies agreed to make their proposal Endesa consolidated, that is, through a holding company that will be managed by Acciona.

The maneuver of competitors was perceived by E.on as illegal. The validity of the last E.on offer will last until April 3 in Spain and until April 6 in the United States. At the same time, according to the order of market regulators, ENEL and ACCONAA, Endesa can make an official offer for purchase only in six months if E.on does not respond to his proposal earlier. The German concern in a statement of competitors saw a violation of the law, accused them of manipulations with the market and insider shares and asked for the Spanish exchange regulator to force the company to sell its share in Endesa and impose a ban on further purchase of the company's shares by Acciona and Enel.

Whether the regulator will take the side of the German concern is difficult to say. So far, one thing is obvious - the struggle for Endesa will continue. Access to the promising markets of Latin America and Spain has been delivered to the map.

03/26/2007 / Evlalia Samedova, the material was published in the newspaper No. 54 dated 03/27/2007.