Iberdrola said to be mulling real estate sell-off

Spanish utility company Iberdrola is reportedly considering selling its real estate unit to help finance a EUR 17.2 bn bid for Scottish Power, according to a report in Spain's business daily Expansion. The newspaper said Iberdrola's chairman Ignacio Sanchez Galan has been opposed to the sell-off up to now because he felt buyers would not pay a high enough price for the real estate arm, which has assets valued at EUR 12.7 bn.

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