Spectroscopic measurements performed on quasicrystals and related crys
talline phases show a well defined pseudo-gap near the Fermi level and
indicate a strong sp-d hybridisation. These results give good support
to an analogy between quasicrystals and Hume-Rothery alloys. Electron
ic transport measurements are also presented. The conductivity is very
low (approximately 100 (OMEGAcm)-1) indicating the proximity of a met
al-insulator transition and has a unusual behaviour for a metallic sys
tem. The interpretation of these results in a classical band picture s
eems difficult and we propose an explanation based on the existence of
peculiar electronic states in quasicrystals, the so-called critical s
tates. The conductivity is interpreted by electronic hopping between s
tructural entities separated by about 30 angstrom.