The take-over of enersis by endesa: the control of privatised utilities
Subject
Economics
Publishing details
Regulation Initiative Working Paper Series
Publication Year
2000
Abstract
The takeover of Enersis, the firm controlling most of the privatised electricity industry in Chile, by Ensea, the largest Spainish electricity firm, is analyses as a case of value destruction, consistent with Jensen's free cash flow theory. Agency problems in the biding firm , as well as target strategies, are related to privatsed methods and regulatory regimes. The last stages of protracted control contest are an illutrsation of war of ideas concerning future strategies for large privatised utilities
Publication Research Centre
Regulation Initiative (closed)
Series Number
40
Series
Regulation Initiative Working Paper Series
Available on ECCH
No
