China's government controlled power grid operator State Grid
Corp. is interested in buying Spain's Red Electrica de Espana SA
(REE.MC) and Spain's gas grid operator Enagas SA (ENG.MC), reports
El Mundo in its Monday Internet edition, citing Spanish government
sources.
Despite reassurance that the Chinese company will be "generous
in its offer" for the companies, the Spanish government is
reluctant to sell, at least for the time being, as it concerns two
strategic companies, the paper adds, citing the same sources.
Spain holds a 20% stake in Red Electrica, which at current
market prices is worth EUR1 billion, and owns a 5% stake in Enagas,
which is worth about EUR200 million.
Newspaper Web site: www.elmundo.es
-Write to Enza Tedesco at enza.tedesco@dowjones.com