Word: italenergia
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...world's largest power provider, snapped up a stake in Italy's energy firm Edison in 2001, it got a nasty shock: Rome capped EDF's voting rights in Edison at a measly 2%. Their claim: the French market wasn't open to competition. (EDF owns 18% of Italenergia, a holding company with a 62% stake in Edison.) But last...
...exec familiar with the negotiations dismisses the plan as little more than a p.r. move, and says it's too early for Rome to consider lifting the cap. And onerous put options may yet force EDF to exit Italy. But Italian utilities might want to buy a piece of Italenergia and that "could get the French off the hook," says the exec. Still, if that eases pressure to reform, consumers may lose; Fabrizio De Candia, European power director at Cambridge Energy Research Associates in Paris, says Italian power prices are up to 40% higher than Western Europe's average...
...billion) with holdings in energy, agriculture, engineering, and chemicals. Among Montedison's key holdings is a majority stake in power producer Edison. MEDIOBANCA: Besides its position as Italy's largest merchant bank, Mediobanca also holds stakes in the giant insurer Generali and the media and fashion group HdP. Until Italenergia came along, its 15% ownership of Montedison made it the controlling shareholder. FIAT: Although best known as a carmaker, Fiat has subsidiaries in aviation, insurance, and publishing. It owns over 10% of HdP. It has teamed up with state-owned French energy company EDF to create Italenergia, which could control...
| 1 |