28 November 2006 For immediate release
STUC Comment on ScottishPower Announcement
In response to the recommendation by the Board of ScottishPower for the acquisition of the company by the Spanish energy company Iberdrola, STUC Deputy General Secretary, Grahame Smith, said:
“It is increasingly apparent, and a worrying trend, that it is far easier for European-based companies to take over successful UK companies than it is for UK companies to enter overseas markets.
“Today’s announcement obviously creates a level of uncertainty for the workforce, the very people who made ScottishPower a successful company. Their concerns must be addressed quickly and sensibly during the period ahead.”
ENDS
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