Telecom Italia SpA logo

TI.A - Telecom Italia SpA News Story

$5.21 0.0  0.0%

Last Trade - 05/07/19

Sector
Telecoms
Size
Large Cap
Market Cap £8.70bn
Enterprise Value £33.41bn
Revenue £13.61bn
Position in Universe th / 6651

Enel kicks off sale of 40-50% of Open Fiber stake to Macquarie

Thu 17th December, 2020 5:20pm
MILAN, Dec 17 (Reuters) - Italy's biggest utility Enel
 ENEI.MI  said on Thursday it had agreed to kick off the sale of
between 40% and 50% of fast broadband company Open Fiber to
Australian investment fund Macquarie.
    Enel, which jointly controls Open Fiber with state lender
CDP, received a binding bid from Macquarie back in September.
    In a statement Enel said the sale of its whole 50% stake to
Macquarie Infrastructure & Real Assets would be worth 2.65
billion euros ($3.3 billion) while the sale of a 40% stake would
be worth 2.12 billion euros.
    It said certain earn-out mechanisms were envisaged.

($1 = 0.8155 euros)

 (Reporting by Stephen Jewkes, editing by Giulia Segreti)
 ((stephen.jewkes@thomsonreuters.com; +39.0266129695; Reuters
Messaging: stephen.jewkes.thomsonreuters.com@reuters.net))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.