Endesa will buy Iberdrola on condition that both firms sell generating assets to Repsol.
The Spanish government could use its shares in Endesa to block the German bid.
ON's bid for Endesa is putting more pressure on the group's rivals to grow.
The Spanish government, once the owner of both Repsol and Endesa, maintains veto power over acquisitions by both companies.
Gas Natural is half the size of Endesa and stretched its financial fire-power to the limit with last year's bid.
You also have tobacco concern BAT UK, mobile phone company Nokia, publisher Wolters-Kluwer and utilities like Centrica, Endesa and Enel, UBS says.
Enel, Italy's biggest power company, was one of the winners in the epic fight for Endesa, Spain's energy giant, earlier this year.
ON, a German energy company, from taking over Endesa of Spain.
Endesa, Spain's biggest power company, is also interested in the company.
ON's bid for Endesa was announced, Enel signalled that it wants to buy a stake in Electrabel, and may even launch a hostile bid for Suez itself.
Court spokesman Jaime Rodriguez said the Supreme Court had rejected seven appeals filed against the HidroAysen project, a joint venture by Spanish-owned energy company Endesa and Chile's Colbun.
BBC: Chile court rules in favour of Patagonia HidroAysen dam
The fight between Repsol YPF , a Spanish energy concern, and Endesa , Spain's leading electricity provider, for the second-biggest generator, Iberdrola, has ended in a government-sanctioned settlement.
The Spanish government announced Spain's biggest ever share offer when it said Endesa , a power-generation group, would be fully privatised in one final stage in May or June.
It is Gas Natural's third attempt to hook up with a big partner in Spain's rapidly consolidating power industry, having been rebuffed by Endesa in 2005 and Iberdrola in 2003.
Studz spent freely on new hires, building up mega negotiating teams that helped advise on deals like e.on's bid for Spanish utility Endesa and billionaire Lakshmi Mittal's takeover of European steelmaker Arcelor.
Nonetheless, from an investor's perspective, 3C still merits a significant amount of attention simply because of its members, a list that also includes: AIG, Areva, Bayer, British Sky Broadcasting, Dow Chemical, Endesa, Hitachi, Munich Re Group, RAO UES Russia, SAS and Siemens.
Studz spent freely on new hires, building up mega negotiating teams that helped advise on deals like e.on's bid for Spanish utility Endesa (nyse: ELE - news - people ) and billionaire Lakshmi Mittal's takeover of European steelmaker Arcelor .
应用推荐