ACS said to renew holding in Iberdrola

MADRID (Reuters) - Spanish builder ACS ACS.MC renewed share options on Friday which help it to keep control of some 13 percent in utility and potential take-over target Iberdrola IBE.MC, El Economista newspaper said on Saturday.

ACS has admitted to holding talks with French power giant EDF EDF.PA on a possible takeover of Iberdrola, which has unsuccessfully sought to limit ACS's stake and voting rights.

Iberdrola has been the source of constant speculation since ACS’s interest emerged with various merger combinations touted in order to block EDF’s possible entry into the Spanish market.

The merger talk has quietened in recent weeks since EDF said it had made a preliminary bid for nuclear operator British Energy BGY.L.


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