A logical jolt

30 January 2008 By William Echikson

French nuclear powerhouse EDF and Spanish construction company ACS are reported to be thinking about a bid for the Spanish utility. A tieup would create a panEuropean carbonlite energy giant, but there are obstacles to be overcome: financing, price and politics.

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French utility EDF and Spanish construction company ACS are in preliminary talks about a joint bid for Spain's largest utility Iberdrola, according to a report in the Financial Times.

Both EDF and ACS have refused to comment. Both the Spanish and French government denied that French President Nicolas Sarkozy and Spanish Prime Minister José Luis Rodriguez Zapatero were aware of the talks.

EDF and ACS would reportedly carve up Iberdrola between them. EDF would keep Scottish Power and a 510% share of the Spanish electricity market.

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