BRUSSELS (Thomson Financial) - The European Commission said the deadline for its inquiry into the proposed acquisition of Cie Nationale du Rhone (CNR) by Suez SA's subsidiary Electrabel SA is set for Apr. 30.
Electrabel holds a 49.97 percent stake in CNR.
A spokesperson for Electrabel told Thomson Financial News that the company had to notify the commission of its desire for 'possible de facto control' over CNR, even though French legislation will currently not permit it to increase its stake to over 50 percent.
'Nothing has changed or will change in our participation (in CNR),' the spokesperson said.
nina.chestney@thomson.com nc/ajb COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
