Endesa Sells Remaining 5% Amena Stake To Deutsche Bank

MADRID -(Dow Jones)- Spanish electricity company Endesa SA Friday said it has sold its remaining 5% stake in the country's third-largest mobile operator, Amena, to Deutsche Bank for EUR377.9 million.

A spokesman for the company said the deal completes Endesa's divestment of its stake in Amena.

He added that Deutsche Bank will act as assignee on behalf of France Telecom. A company acts as assignee when appointed to act for another.

Earlier this year, France Telecom reached an agreement with Amena shareholders - including Endesa, Union Fenosa and Banco Santander Central Hispano, to acquire a 80% stake in the company for EUR6.4 billion cash.

As part of the agreement, France Telecom said it would buy the remaining 20% stake within three years.

Endesa said it will book a EUR1.47 billion gross capital gain from the sale of its entire Amena stake.

The company is trying to fend off a hostile EUR22 billion bid from Gas Natural SDG, the country's dominant gas supplier.

Company Web site: http://www.endesa.com

-By David Roman, Dow Jones Newswires; +34 913 958 125; david.roman@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 30th December 2005