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Enel makes informal bid for majority Metroweb stake - report

2016-05-09 08:32:00| Telecompaper Headlines

(Telecompaper) Italian utility giant Enel has presented a EUR 400 million bid for a controlling stake in Milan-based broadband provider Metroweb as part of its plans to build a national fibre-optic network, according to an unnamed source cited by Reuters. The offer is for the 54 percent stake in Metroweb owned by infrastructure fund F2i, valuing the broadband provider at EUR 776 million, said the report, adding that Telecom Italia is also expected to table a bid in the coming days. Business daily Il Sole 24 Ore said Telecom Italia's offer could be as high as EUR 825 million in cash.

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