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Gaz de France-Suez merger overcomes domestic opposition.

Publication: M2 Presswire
Publication Date: 29-SEP-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-29 September 2006-DATAMONITOR: Gaz de France-Suez merger overcomes domestic opposition(C)1994-2006 M2 COMMUNICATIONS LTD

RDATE:28092006

London - French economy minister Thierry Breton has successfully navigated the GDF-Suez merger through the French National Assembly. Yesterday Article 10, the most controversial portion of a new energy law, was passed. This article permits the French government to reduce its stake in Gaz de France from 70% to 34% and paves the way for the creation of Europe's second largest gas utility after EDF. However, the business rationale for the merger remains vague. New Datamonitor research shows that economies of scale in the European energy sector do not necessarily produce higher profits: on average there is no relationship between the size of a utility and its profitability.

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