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)

Copyright (c) 2021 Dow Jones & Company, Inc.
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