E.On to profit despite Endesa protectionism

In one of the longest running energy market M&A deals in Europe, the Spanish government's latest attempts to secure Endesa as a Spanish-owned company and block E.On entering the market, appear to have failed.

While E.On had been temporarily blocked from the deal in favour of a bid from Spanish construction group Acciona and Italian utility Enel, it later negotiated a way in.

E.On reached agreement with Enel and Acciona to acquire some of Endesa's assets should the Enel/Acciona consortium be