Utilities deals boost Italy and Spain.

Financial News, January, 2002

On the surface, Spanish and Italian advisers enjoyed contrasting fortunes in 2001. In the absence of any significant telecoms or banking deals, Spain suffered along with the rest of Europe from the M&A downturn.

Meanwhile, Italy boasted two of the Continent's most significant transactions, as the country's banks and insurance companies set about unwinding their diverse industrial interests. This marked a fundamental change in corporate culture which Spain also shares. In 2001, economic reality and political interest, so often enemies, came down on the same side.

The deregulation of the utilities sector was responsible for the most deal flow between the two countries. The past 18 months saw a hardening of the European Commission's (EC) line on...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.