Suez falls for Veolia plot
- From: Vol 7, Issue 3 (March 2006)
- Category: General
- Region: Europe
- Country: France
- Related Companies: Aguas de Barcelona, Electrabel, Endesa, Enel, Eon, Gas Natural, Gaz de France, La Caixa, Merrill Lynch, RWE, Suez, United Utilities and Veolia
The world\'s two largest water businesses have found themselves on either side of a battle over energy consolidation and economic nationalism. Neither looks good.
The credibility of France’s water giants has taken a self-inflicted hammering as merger plans for Suez turned to farce. In the face of a hostile takeover by Italian energy generator Enel, the Suez board agreed to a friendly merger with the state-owned Gaz de France on 27 February. This has drawn Suez and the French government into a row ...
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