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ACS Boosts Iberdrola Stake

Spanish building company, ACS, has raised its stake in utility, Iberdrola, by acquiring shares on the open market.

Spanish building company, ACS, has raised its stake in utility, Iberdrola, by acquiring shares on the open market, Reuters reports. The stake held by ACS has increased from 15.9% to 20.2%.

ACS is seeking to get board representation at the utility by increasing its stake. Since Iberdrola and ACS compete with each other in certain business areas, Iberdrola cannot grant ACS board representation.

Click here for the story from Reuters.

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