Iberdrola said to decide against Australia's Endeavour offer

Sources say that the major Spanish power company will not be bidding on Australia's electricity distributor Endeavour Energy

Photo: /ritzau/Sisse Dupont/

Iberdrola SA, Spain's biggest power company, has decided against bidding for a majority stake in Australian electricity distributor Endeavour Energy that could be valued at more than AUD 4 billion (USD 3.1 billion), according to people familiar with the matter.

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