MADRID (Thomson Financial) - A mercantile court in Bilbao, Spain has called on EDF to declare its intentions for Iberdrola SA following a request by the Spanish utility.
The move comes after months of media speculation that the French utility has been in talks with Spanish constructor Actividades de Construccion y Servicios SA over a possible joint bid for Iberdrola (other-otc: IBDRF.PK - news - people ), followed by a breakup of the group.
The court said it has asked EDF to declare if it has begun, or is preparing, a bid for Iberdrola through the acquisition of shares, swaps or securities convertible in to stock.
The court also called on EDF to say whether it was preparing a bid with third parties or is acting alone.
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