The Spanish grid company Red Electrica (REE) has announced that it has completed negotiations to buy a majority stake in the Bolivian grid operator Transportadora de Electricidad (TDE) from the Spanish utility Union Fenosa. Terms for acquisition of the 69 per cent stake in TDE were held back pending regulatory approval in Bolivia. The deal is intended to allow Union Fenosa to reduce its debt by ยค135 million. The company intends to focus on generation and distribution. A consortium led by Union Fenosa purchased TDE in 1997 for $40 million, agreeing at the time to take on the company’s debt of $70 m.