MILAN (Thomson Financial) - Amga Udine SpA is talking to Acegas-APS SpA,
Ascopiave SpA and a series of other local utilities in the North-East of Italy
with a view to integration, Amga Udine chairman Antonio Nonino told newswire
Radiocor.
Nonino said that utilities in the North East, from Verona to Trieste, have
accelerated talks on possible link-up accords.
"The aim is integration based on territorial proximity and a common
industrial plan," Nonino said.
Aside from the listed Acegas-APS and Ascopiave, Nonino said talks could also
involve Gorizia local utility Iris, Vicenza's AIM and Verona's AGSM.
"We know that Acegas-APS is talking to Vicenza and Verona and so we're
heading towards a North-East axis," Nonino said.
Analysts say that the planned merger between AEM SpA and ASM Brescia SpA
will act as a catalyst for a further round of consolidation among Italy's local
utilities as they seek to compete on what is increasingly a European market and
fend off aggressive foreign attention.
Newspaper reports have speculated that the Bologna-based Hera SpA could tie
up with Rome utility Acea SpA or the Turin-Genoa group Iride SpA.
stephen.jewkes@thomson.com
sj/dca
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