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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)
 ((; +39.0266129695; Reuters
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