BRITISH GAS CONSOLIDATING POSITION IN SPAIN

In Spain, British Gas plc has sold its interests in one of the key Spanish gas companies in exchange for a 50% stake in the engineering and service units of Spain's new state gas company Gas Natural. The BG deal consolidates the company's position in one of the fastest growing gas markets in Europe while acknowledging the Spanish government's dislike of a direct foreign shareholding in the new national gas company.

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