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Enel not to acquire assets in Gaz de France

10 September 2007 – Electricity transmission company Enel’s CFO Luigi Ferraris has said that the company’s acquisition campaign is over and it is not looking forward to acquire any Suez assets that might have to be sold as a result of the planned merger with Gaz de France.

“We’re not interested in buying assets since, as the CEO just said, our major acquisition phase is over with Endesa and OGK-5,” Mr Ferraris said.

Enel has recently acquired Endesa and Russian power generating company OGK-5.

Enel CEO Fulvio Conti said: “The bulk of our transformation is over but we could be interested in smaller assets that could complement our present footprint without impairing our financial situation or our dividend policy.”

“Enel is adopting a standalone strategy in France, looking for wind farms for power generation and sites to develop assets. It is in the common interest to resolve the problem especially in light of the French group’s investments in Italy.”