MADRID: The Spanish electricity company Endesa is expected to hold
a pitch for media relations support if its plans for privatisation get
the go-ahead from the government.
The state currently owns almost 42 per cent of the energy company, which
has been sold off in three offerings since 1987. Between 20 and 25 per
cent of Endesa is likely to be sold by the government in May, and the
remaining government shares some time in 1999.
It is thought that a number of agencies have been in discussions with
Endesa, but a formal pitch will not take place until the Spanish
government gives the go-ahead for the next stage of sell off, which was
announced in February.
A source from Sepi, the state-owned holding company for Endesa, said it
maintains contact with agencies on a regular basis, but denied having
any contact in relation to the latest privatisation plans. ’We haven’t
yet set the date or details of this stage of the privatisation process,’
said the source.
Endesa, which generates and distributes electricity, has shares quoted
on the London and New York stock exchanges.