CNMV lifts suspension on Iberdrola, Iberdrola Renovables trading

(ADPnews) - Mar 9, 2011 - Spain's stock marker regulator CNMV decided to lift the suspension on the trading of Spanish utility Iberdrola (MCE:IBE) and its renewable energy arm Iberdrola Renovables (MCE:IBR) as of 0830 CET today.

Yesterday, CNMV temporarily suspended the trading in the two companies after Iberdrola offered to buy back the stake of its arm which was listed on the Madrid stock exchange in December 2007. Before the suspension Iberdrola traded at EUR 5.99, up 0.37%, and the renewable energy firm -- at EUR 2.736, up 1.07%.

Iberdrola has made a EUR 2.5 billion (USD 3.5bn) share-swap bid for the 20% it does not own in Iberdrola Renovables.

(EUR 1.0 = USD 1.389)

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