DUSSELDORF, Germany, Feb. 28 (UPI) -- Italy's Enel may increase its stake in Spain's Endesa, thereby threatening Germany's E.ON group for the company.
Enel said Wednesday it might boost its shareholding in Endesa to just under 25 percent, having secured 9.99 percent of total shares in the Spanish company Tuesday.
German energy giant E.ON stated, however, that it "remains committed to its offer for Endesa," adding that "only E.ON's offer is available to all Endesa shareholders." Yet Enel paid about $51.60 per share for the Spanish company, while E.ON has offered only $51.30 for Endesa, albeit for 100 percent of the company.
E.ON has already battled with Spain's Gas Natural for that right, even though its bid had been opposed by Spain's utility group Acciona which was Endesa to remain an independent company.
