Enel Backs Italian State Lender's Offer for Open Fiber Stake
May 03 2021 - 2:25AM
Dow Jones News
By Mauro Orru
Enel SpA said late on Friday that it has given the go-ahead for
an offer from CDP Equity SpA for a stake in fiber optics company
Open Fiber SpA.
The Rome-based energy company said the offer from CDP Equity,
the holding company of Italian state lender Cassa Depositi e
Prestiti SpA, is for Enel's 10% stake in Open Fiber.
Open Fiber was established in December 2015 to install, supply
and operate optical fiber electronic communication networks across
Italy. It was set up as a 50-50 joint venture between Enel and CDP
Equity.
Enel in December approved the sale of a 40% stake in Open Fiber
to Macquarie Infrastructure & Real Assets for a consideration
of 2.12 billion euros ($2.55 billion).
The company didn't provide financial details for the latest
offer from CDP Equity.
CDP Equity said late on Friday that it would reach the majority
of Open Fiber's capital once the transaction is completed, subject
to the signing of final agreements.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
May 03, 2021 02:10 ET (06:10 GMT)
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