Madrid - The Italian utility Enel has asked the Spanish energy market watchdog CNE for permission to raise its stake in the country's top electricity company Endesa to nearly 25 per cent, reports said Thursday in Madrid.
Enel made the request while raising its stake in Endesa to 17 per cent, after initially acquiring nearly 10 per cent for 4.13 billion euros (5.5 billion dollars) on Tuesday.
Enel's acquisition of a stake in Endesa could block a 41-billion-euro takeover bid by the German energy giant E.ON, if Enel joins forces with the Spanish builder Acciona, Endesa's main shareholder
with a 21 per cent stake.
