MILAN (Thomson Financial) - Iride SpA's controlling shareholders, the cities
of Genoa and Turin, are keen to merge the utility company with Enia SpA and Hera
SpA, the daily La Stampa said citing the mayors of the two cities.
However, the alliance could be opened to other local utility companies
including Acea SpA and A2A SpA, the newspaper said.
An alliance between Iride and other local utilities does not exclude anyone
but the priority is an agreement with Enia and Hera, the mayors, Sergio
Chiamparino of Turin and Marta Vincenzi of Genoa, were cited as saying.
Chiamparino was also quoted as saying that the alliance should include A2A,
which operates in the northern cities of Milan and Brescia.
The daily added that the comments indicate that Iride favours a gradual
merger with other companies starting with Enia and Hera, which are based in the
central region of Emilia Romagna.
However, Acea has ruled out entering an alliance with Iride, Enia and Hera
if it is not involved from the onset, La Stampa said, adding that the Roman
company is also ready to explore other growth opportunities.
philip.webster@thomson.com
pw/lam
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