MILAN (Thomson Financial) - The mayors of Turin and Genoa, the main
shareholders in Iride SpA, have asked to meet A2A, the name for the merger of
AEM SpA and ASM Brescia SpA, said Brescia mayor Paolo Corsini.
There is speculation of further mergers between municipally owned utilities
in the wake of creation of A2A, a merger due to become effective Jan 1, linking
the Milan and Brescia utilities.
"The mayor of Turin, Sergio Chiamparino, has expressed an interest in
meeting us, so has Marta Vincenzi," the mayor of Genoa, said Corsini.
Speaking at a presentation of A2A in Brescia, he said the new group is not
considering expansion in the north east of Italy.
The merger of AEM and ASM is the start "for a big project for the north of
our country", he said, without further details.
Other speculation on north Italy utility mergers centres on Bologna utility
Hera SpA, which is seen eyeing Iride and Rome's Acea SpA.
Energy regulator chief Alessandro Ortis said mergers are positive so long as
they focus on industrial aspects because they can generate synergies, more
competitive capacity and consumer benefits.
nigel.tutt@thomson.com
nt/slj
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