MADRID (Reuters) - Spain's High Court on Thursday closed an investigation into the alleged role of power utility company Iberdrola (BME:IBE)'s Chief Executive Ignacio Sanchez Galan in a 15-year-old spying case, citing the statute of limitations.
The court was investigating whether Iberdrola hired former police chief Jose Manuel Villarejo, who ran intelligence services company Cenyt, to spy on Real Madrid soccer club president Florentino Perez when Perez's construction company ACS was fighting for a seat on Iberdrola's board in 2009.
The court decision, announced in a statement, can be appealed.
Asked about Thursday's court decision, an Iberdrola spokesman said the company "has always maintained no wrongdoing in relation to this case".
Galan has been at the helm of Iberdrola for more than 15 years, during which time he has made it one of the world's leading renewable power generators.
The investigation is part of a wider inquiry, which revolves around Villarejo's activities and has roiled Spain's corporate sector. As part of the complex case, Villajero spent three years in prison pending trial, but was released a year ago as the investigation dragged.
Villarejo has repeatedly said he is innocent.