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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