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Talks held on power takeover bid | |
(30 minutes later) | |
"Constructive" talks have taken place between the first minister and senior figures from the Spanish company seeking to take over Scottish Power. | |
It was announced last week that energy giant Iberdrola had launched a £11.6bn bid for the utility firm. | |
Jack McConnell said he was seeking assurances over jobs from Iberdrola company chiefs. | |
The firm's president, Ignacio Galan, told him Iberdrola would retain corporate headquarters in Scotland. | |
Mr McConnell said the meeting on Tuesday morning had gone well. | |
Mr Galan is due to meet the Scottish National Party deputy leader Nicola Sturgeon later. The Nationalists have declared their opposition to the merger. | |
The Iberdrola representative will also meet with Tory deputy leader and enterprise spokesman Murdo Fraser and Glasgow Conservative MSP Bill Aitken. | |
We will be seeking assurances that jobs will be secure, that the company will not be broken up and that a fully functioning HQ will remain here in Scotland Nicola SturgeonSNP deputy leader | |
Last week Philip Bowman, the chief executive of Scottish Power, told Mr McConnell and Deputy First Minister Nicol Stephen that jobs would not be lost in the Spanish takeover. | |
Mr Bowman also gave them assurances on other issues such as future investment and renewable energy plans. | Mr Bowman also gave them assurances on other issues such as future investment and renewable energy plans. |
Iberdrola said the takeover would be a positive move for employees and customers and that it would keep Scottish Power's offices in the UK, where it employs about 9,500 people. | |
The company is a major employer in the Cathcart area of Glasgow. | The company is a major employer in the Cathcart area of Glasgow. |
Cathcart MSP Charlie Gordon told the BBC's Good Morning Scotland programme: "My main concerns are those of the people who work in Cathcart, some 1,700 of them. | Cathcart MSP Charlie Gordon told the BBC's Good Morning Scotland programme: "My main concerns are those of the people who work in Cathcart, some 1,700 of them. |
"This is a time of uncertainty for them and I'm looking for reassurances about the future of their jobs. | "This is a time of uncertainty for them and I'm looking for reassurances about the future of their jobs. |
"The more of us who seek to have these reassurances firmed up, the better position we'll be in to hold the company to account in future if the deal goes through. | "The more of us who seek to have these reassurances firmed up, the better position we'll be in to hold the company to account in future if the deal goes through. |
"We have to face up to the reality of the situation." | "We have to face up to the reality of the situation." |
Renewable investment | Renewable investment |
Scottish Power supplies power to 5.2 million homes and profits for the six months to 30 September jumped 77% to £483m. | Scottish Power supplies power to 5.2 million homes and profits for the six months to 30 September jumped 77% to £483m. |
Nationalists have previously called for the takeover to be blocked, pending an EU investigation into Spanish tax subsidies. | Nationalists have previously called for the takeover to be blocked, pending an EU investigation into Spanish tax subsidies. |
Speaking ahead of the meeting Ms Sturgeon said the takeover of Scottish Power was not in Scotland's national interest. | |
She said: "In particular, we will be seeking assurances that jobs will be secure, that the company will not be broken up and that a fully functioning HQ will remain here in Scotland. | She said: "In particular, we will be seeking assurances that jobs will be secure, that the company will not be broken up and that a fully functioning HQ will remain here in Scotland. |
"We will also be stressing our view that Iberdrola should continue Scottish Power's investment in renewables and not divert resources into nuclear energy." | "We will also be stressing our view that Iberdrola should continue Scottish Power's investment in renewables and not divert resources into nuclear energy." |