Enel and F2i start talks over control of Metroweb - Il Sole 24 Ore
Enel [BIT: ENEL], the Italian utilities group and F2i, the Italian infrastructure fund, have started talks over Metroweb, the Italian fibre optic operator, Italian language daily Il Sole 24 Ore reported.
The unsourced report said the talks are regarding Enel taking joint control of Metroweb with F2i.
The operation would see all of Metroweb and its subsidiaries transferred into a newco. Enel and F2i are now looking to appoint an advisor for the proposed deal, the article noted.
F2i currently controls 53.8% of Metroweb and the remainder is held by FSI, the investment fund controlled by CdP, the holding of the Italian Treasury, the item noted. The stakes of both companies would be reduced to allow the entry of Enel, which is looking at taking a 30%, it added.
Enel may take the stake in a consortium with a number of infrastructure funds that might also become shareholders in Metroweb, the report noted.
The item added that CdP is also likely to take direct control of the Metroweb stake in April. The purpose of the operation is to raise EUR 2.5bn to extend a fibre optic network to 250 towns and cities.
The article said F2i and FSI are being advised by Vitale & Co.
Il Sole 24 Ore