EDF declines comment on Spanish ruling on Iberdrola
PARIS, March 26 (Reuters) - EDF (EDF.PA: Quote, Profile, Research) declined to make any comment after a Spanish court gave the French power group five days to clarify its intentions towards Iberdrola (IBE.MC: Quote, Profile, Research) after weeks of media reports about a possible bid for the Spanish utility.
"We have no comment to make," a spokeswoman at EDF said on Wednesday.
In a ruling dated March 25 and seen by Reuters on Wednesday, the mercantile court of Bilbao said EDF should declare if it has started to buy, or plans to buy Iberdrola shares or securities convertible into stock.
The court also asked EDF if any eventual takeover would be carried out alone or with a third party and whether it intended to break up Iberdrola, Spain's largest utility with a market capitalisation of 52.4 billion euros ($82.45 billion).
EDF has openly expressed its interest in entering the Spanish market, and several newspapers have reported that EDF has been in talks with Iberdrola's main shareholder ACS (ACS.MC: Quote, Profile, Research) about bidding for the company and breaking it up between them.
(Reporting by Marie Maitre; Editing by James Mackenzie)
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