Iberdrola mulls over raising stake in Gamesa further
(ADPnews) - Oct 20, 2010 - Spanish utility Iberdrola (MCE:IBE) said today it was likely to continue acquiring shares in wind power company Gamesa (MCE:GAM).
According to the registers of the national stock market regulator CNMV, Iberdrola has lifted its stake in Gamesa (MCE:GAM) to 15.138%. On October 18, the utility bought 200,000 shares in Gamesa at a price of EUR 4.67 apiece or a total EUR 934,000 (USD 1.3m).
Iberdrola's chairman said the shares of Gamesa were cheap and the company would probably keep buying.
Gamesa traded today at EUR 4.885, up 3.94%, today at 1234 CET on the Madrid stock exchange.
(EUR 1.0 = USD 1.382)