Enel Sells Open Fiber Stake for EUR2.65 Billion
August 05 2021 - 2:16AM
Dow Jones News
By Mauro Orru
Enel SpA has signed contracts to sell its entire stake in
fiber-optics company Open Fiber SpA for 2.65 billion euros ($3.14
billion).
The Rome-based energy company said Thursday that it is selling a
40% stake to Macquarie Asset Management and the remaining 10% to
CDP Equity SpA, the holding company of Italian state lender Cassa
Depositi e Prestiti SpA.
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.
The transaction is expected to close in the last quarter of the
year.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
August 05, 2021 02:09 ET (06:09 GMT)
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