Taqa considering new approach for Spain's Naturgy - report

(Sharecast News) - Abu Dhabi National Energy Co. is reportedly considering reviving a plan to buy a stake in €23bn Spanish utility Naturgy Energy Group. Bloomberg cited people familiar with the matter as saying that Taqa, as the state-controlled energy company is known, is working to decide whether or not to make a new bid for part of Naturgy.

A source told Bloomberg it's already been in touch with the Spanish government, which has indicated support for a deal.

It was understood that deliberations are ongoing and there's no certainty that Taqa will proceed with a transaction.

At 0930 GMT, Naturgy shares were up 3.4% at €24.72.