It all started with the Catalan Statute, then there was this piece, then Wolfgang Munchau joined in. Today comes the news that:
"The European Union’s top competition regulator will this week issue formal antitrust charges against Telefónica, alleging that the Spanish telecommunications group has abused its dominant position in the fast-growing market for broadband services."
And there is the situation with the takeover bid from the German group Eon for the Spanish utility company Endesa (full copy here):
ImageEon, Germany’s biggest power group, on Tuesday launched a €29bn cash offer for Spain’s Endesa, raising prospects of renewed consolidation in Europe’s energy sector.
If Eon succeeds it would be the word’s largest utility deal, valuing Endesa at €55bn, including debt and minority interests. It would create the world’s biggest utility with 50m customers across 30 countries in Europe and the Americas.
But the move, which trumps a rival bid from Gas Natural, threatened to disrupt Spanish efforts to create a national champion in the power sector and presented a challenge to Brussels just days after it announced an antitrust crackdown in the energy sector.
The curtain is about to be drawn like never before on Spain's inner 'boudoir'. Let's just hope that everything which is to be found there makes for suitable public viewing.
Edward Hugh is only able to update this blog about once a month at the moment, but he does have a lively and enjoyable Facebook community where he publishes frequent breaking news economics links and short updates. If you would like to receive these updates on a regular basis and join the debate please invite Edward as a friend by clicking the Facebook link at the top of the right sidebar.