Spanish energy company Gas Natural has floated a possible merger with Portuguese firm EDP, according to sources close to the case speaking to Reuters. This means a deal potentially worth EUR 35 billion which would transform the company into Europe's fourth-largest after Italian company Enel, Spanish company Iberdrola, and French company Engie.
According to Reuter's sources, the merger plans are still at an early stage, and it is too soon to conclude if the deal will wind up implemented. Gas Natural denies that it is in negotiations with EDP, which also declines to comment to the news agency.
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