November 28, 2006 07:13 ET

Amicus Reaction to the proposed takeover of Scottish Power by Iberdrola

LONDON, UNITED KINGDOM--(CCNMatthews - Nov. 28, 2006) -

Amicus National Officer, Dougie Rooney says,

"Amicus is seeking an urgent meeting with Iberdrola to discuss their proposed business plans. We're extremely concerned, not because it's a foreign takeover but because we believe they intend to break up the company. We have opposed this strategy in the past and Amicus is prepared to support our members if they were to choose industrial action to protect the company. If the Scottish Power board thinks our members will accept the fragmentation of Scottish Power, they better think again.

In addition, Amicus is appalled that Scottish Power's former Chief Executive, who was sacked, received a payout of GBP 6.8 million for failure and running the company into difficulties. We understand that if the present Chief Executive is successful in selling the company he will receive GBP 15 million. "

Contact Information

  • Amicus Press Office
    Ciaran Naidoo
    07768 931 315