April 03, 2007	Tuesday	Rabi-ul-Awwal 14, 1428

BERLIN, April 2: German energy group E.ON said on Monday that it was withdrawing its takeover bid for Spanish power company Endesa, but still hoped to buy assets from the group worth about 10 billion euros.

E.ON made the announcement after reaching an agreement with Endesa’s two main stakeholders, Acciona and Enel.

“Today, E.ON signed an agreement with Enel and Acciona in order to put an end to the substantial uncertainty surrounding the takeover bid for Endesa,” the company said in a statement.

“Therefore, E.ON will not carry out the takeover bid designed to acquire a majority stake in Endesa.”—AFP