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23 April 2008 - A Bilbao court has rejected EDF's request that an outstanding appeal lodged by Iberdrola SA against the French energy giant be ruled on in France.
EDF had said it was not in the court's jurisdiction to rule on the 'cautionary measures' which Iberdrola had requested be imposed on its French peer.
But in his ruling, reported Thomson Financial the court judge said he rejected the claim of a lack of 'international jurisidiction' in this case.
Iberdrola said it is not making any evaluation of today's ruling, but reiterated its respect for legal decisions.
At the beginning of April, Iberdrola called on the Bilbao mercantile court to force EDF to declare its intentions for the Basque utility within five working days, threatening a fine of between €15.2m and €76m ($24-121m) a month for up to one year if the French group failed to comply.
In March, the court called on EDF to declare its intentions for Iberdrola, following a request by the Spanish utility.
The move followed months of media speculation that the French utility has been in talks with Spanish constructor Actividades de Construccion y Servicios SA over a possible joint bid for Iberdrola, followed by a breakup of the group.
The court said it has asked EDF to declare if it has begun, or is preparing, a bid for Iberdrola through the acquisition of shares, swaps or securities convertible in to stock.
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