By Marc Bisbal Arias

Iberdrola SA (IBE.MC) said Monday that Neoenergia S/A (NEOE3B.SM) is raising its bid for Eletropaulo Metropolitana Electricidade de Sao Paulo S/A (ELPL3.BR) to 29.40 Brazilian reais ($8.6) a share.

The offer tops Enel SpA's (ENEL.MI) BRL28 a share offer.

Previously, Neoenergia had offered BRL25.51 a share.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

April 23, 2018 02:23 ET (06:23 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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