Enel CEO says no problems with Acciona currently

CERNOBBIO, Italy, Sept 5 | Fri Sep 5, 2008 9:02am EDT

CERNOBBIO, Italy, Sept 5 (Reuters) - There are no current problems between Italian utility Enel (ENEI.MI) and Spain's Acciona (ANA.MC) over their joint management of Spanish group Endesa (ELE.MC), Enel Chief Executive Fulvio Conti said on Friday.

Asked by reporters if a tense climate between the two companies had eased over the summer, Conti said: "It seems so, yes ... It seems that at this time there are no particular problems.

"Endesa is continuing to develop its initiatives on the domestic market or in Latin America," he said on the sidelines of a business conference in northern Italy.

Acciona agreed to buy Endesa with Enel last year with an option that allows Acciona to sell out to Enel after three years of the deal.

A series of reports in Spain and Italy had spoken of tension threatening Enel's and Acciona's cooperation. Both downplayed the tension. "I would not comment anyway in public," Conti told reporters.

On Endesa's performance, Conti said: "We are very satisfied with the result and we are going ahead calmly." (Reporting by Giancarlo Navach; Editing by David Holmes)

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