By Tony Barber in Rome and Mark Mulligan in Madrid
Thursday, March 01, 2007
 
Enel, the partly state-owned Italian utility group, was confident last night of building a stake of just under 25 per cent in Endesa in a move that could derail a �1bn ($54bn) takeover bid by Germany's Eon for Spain's largest electricity company.

Eon said it would not withdraw its bid, tabled early this month after a 12-month battle with Spanish regulators, politicians and blocking shareholder groups.

After a heavy fall, shares in the German group recovered to �8.8, down just less than 1 per cent on the day.

 http://www.ftchinese.com/sc/story_english.jsp?id=001009805