Intesa Might Get Involved In Edison Talks - Report

Italian bank Intesa Sanpaolo SpA (ISP.MI) might get involved in the talks among shareholders on the future of Edison SpA (EDN.MI), the country's second biggest electricity and natural gas utility by volume.

"The most workable option is the involvement of Intesa Sanpaolo," Industry Minister Paolo Romani is quoted as saying in an interview published Sunday in Corriere della Sera, an Italian daily.

Romani did not elaborate.

Intesa has often come to the government's aid, mostly recently in a failed effort to rally a group of investors to ward off the advances of French dairy group Lactalis SA on Parmalat SpA (PLT.MI). The government was concerned about foreigners taking greater control of Italy's industry.

In Edison's case, French power giant Electricite de France SA (EDF.FR) has been in talks with A2A SpA (A2A.MI) and other shareholders over the future of the utility.

Romani met with EDF Chief Executive Henri Proglio last Monday and agreed to give shareholders more time to reach an agreement.

Early this year, A2A reached a preliminary agreement with EDF that would allow the French utility to take control of Edison and let A2A to acquire some hydroelectric assets.

Newspaper: www.corriere.it

-Gilles Castonguay, Dow Jones Newswires; [phone]; [e-mail]