Iberdrola builds stake in Gamesa to prop up price

Spanish utility Iberdrola has built up its stake in Gamesa, supporting its share price in the face of prolonged rumours that the wind turbine manufacturer has become a takeover target. Iberdrola now has a stake of about 17.6%, after buying shares equivalent to 2.8% of Gamesa's capital since 7 October, when the turbine maker presented its 2011-13 business plan..