MILAN (Thomson Financial) - Italy's north-east utilities have agreed to set
up a holding company to create a regional player that has the size and critical
mass to compete on national and international markets, the Veneto region finance
company Veneto Sviluppo said.
In a note Veneto Sviluppo said that over 50 mayors and local utility
managers in the region have agreed to the project which envisages the creation
of a holding company that will be majority-controlled by public shareholders.
"A merger (of utilities) in Veneto and the north-east represents an
opportunity to create a regional player able to compete on the domestic and
international scene and bring on board other groups both in and outside the
area," Veneto Sviluppo said.
Among the utilities present were Acegas-APS SpA and Ascopiave SpA.
stephen.jewkes@thomson.com
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