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| Version 0 | Version 1 |
|---|---|
| Probe into bid for Scottish Power | Probe into bid for Scottish Power |
| (about 2 hours later) | |
| The European Commission is investigating the proposed £11.6bn takeover of Scottish Power by the Spanish firm Iberdrola. | The European Commission is investigating the proposed £11.6bn takeover of Scottish Power by the Spanish firm Iberdrola. |
| The preliminary inquiry follows Scottish National Party accusations that Iberdrola's expansion was being subsidised by tax-breaks in Spain. | The preliminary inquiry follows Scottish National Party accusations that Iberdrola's expansion was being subsidised by tax-breaks in Spain. |
| The commission will consider incentives offered by the Madrid government. | The commission will consider incentives offered by the Madrid government. |
| It will then decide on 16 February whether to let the deal go ahead or to carry out a more detailed inquiry. | It will then decide on 16 February whether to let the deal go ahead or to carry out a more detailed inquiry. |
| Iberdrola said it was co-operating with the commission and remained "confident" its plan to takeover Scottish Power will not face competition hurdles. | |
| It has said it plans to retain Scottish Power's offices in the UK, where the company employs about 9,500 people. | It has said it plans to retain Scottish Power's offices in the UK, where the company employs about 9,500 people. |