UK insists on say as power bid is cleared
Wednesday 27 January 1999
The European Competition Commissioner Karel Van Miert is thought to have rejected a request to refer the bid back to London and is set to give regulatory clearance as early as today.
Earlier this month the Department of Trade and Industry asked for authority for vetting the deal to be handed to UK competition authorities on two grounds - public interest concerns and the impact the takeover would have on competition in the UK electricity market.
EdF already supplies about 7 per cent of the UK electricity market through the cross-Channel interconnector, so a takeover of London would amount to vertical integration.
Mr Battle said: "We have a set of concerns about any company which is vertically integrated. We would hope that the merger would fall also within the ambit of our own regulatory structures."
DTI officials said they would expect the Commission's mergers task force to take UK concerns on board. But they refused to comment further on what action the UK could take, saying the department wanted to wait for formal confirmation of the Commission's decision.
This would be the first time that Brussels has ignored a request from a member state to hand back a merger on grounds of national interest. It would also be the first time that is has rejected a request from the UK based on concerns about competition in a distinct market.
The Commission had already taken the unprecedented step of waiving its own rules to allow EdF to launch an unconditional bid for London.
Meanwhile, Mr Battle refused to give a guarantee that the Government would meet its target date of reforming the UK's electricity trading pool by April 2000. The reform processis bogged down by disputes .
- 1 Michael Brown shooting: Amnesty International sends team within US for first time as National Guard deployed
- 2 Greggs Google fail: bakery falls afoul of search engine's algorithms with 'unofficial' logo
- 3 Is this the end of apps? New research says a third of us don't bother to download
Isis threat: Cameron wants an alliance with Iran
Crisis? What crisis? A visiting US doctor gives the NHS a rave review
Ukip MEP calls for reintroduction of death penalty on fiftieth anniversary of last deaths
Russell Brand calls for Israel boycott: Comedian urges big businesses that 'facilitate the oppression of people in Gaza' to pull funding
Michael Brown shooting: Chaos erupts on the streets of Ferguson after autopsy shows teenager was shot six times – twice in the head
World peace? These are the only 11 countries in the world that are actually free from conflict
iJobs Money & Business
£60000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Business Anal...
£60000 - £90000 per annum + Bonus: Harrington Starr: Global leading Energy Tra...
£40000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: CXL, Triple Po...
£45000 - £75000 per annum + BONUS + BENEFITS: Harrington Starr: Harrington Sta...