By Michelle Fitzpatrick - 15th May 2006
The merger between Gaz de France and Suez does not infringe EU regulations, according to preliminary Brussels findings.
In what is likely to be seen as a setback for Brussels, internal market commissioner Charlie McCreevy has ended the investigation into a planned €70bn merger between French energy firms Gaz de France and Suez.“It does not seem as if France has infringed on EU regulations in this case,” McCreevy’s spokesperson told FT Deutschland.
The French government was widely attacked for seemingly arranging the merger to prevent Italian energy giant Enel from taking over Suez.
But when the commission asked the French government for information on the merger, Paris delivered all the necessary papers and the answers were satisfactory, said McCreevy’s spokesperson.
Ending the probe will no doubt come as a disappointment to a commission that has been fighting against recent displays of protectionism in the EU.
The energy merger should be completed by the end of the year.
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