[Le Figaro, 4 February; Bloomberg, 4 Feburary; Reuters, 5 February] Pierre Gadonneix, president of Electricité de France (EdF), has confirmed that the group is interested in purchasing Spanish utility Iberdrola. Speaking during a visit to China, Gadonneix told reporters that an eventual takeover could take around 18 months, but would not comment on any potential partners in the venture. Speculation has suggested that the French company may buy 30% of Iberdrola and then partner with Spanish construction group ACS, which already owns 13% of the utility. Iberdrola has reportedly hired Morgan Stanley to prepare a defence against a possible takeover. No takeover can go ahead without the approval of the Spanish government, which is unlikely to be granted ahead of Spain's general election on 9 March. Iberdrola is Spain's second-biggest power producer, with about one fifth of its domestic generation from nuclear.