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Enel receives binding bid from Macquarie for Open Fiber stake

Reuters logo Reuters 9/17/2020
a sign on the side of a building: FILE PHOTO: A logo of Italian multinational energy company Enel is seen in Milan © Reuters/FLAVIO LO SCALZO FILE PHOTO: A logo of Italian multinational energy company Enel is seen in Milan

MILAN (Reuters) - Italy's Enel said on Thursday it had received a binding bid from investment fund Macquarie for its 50% stake in broadband network operator Open Fiber.

The utility said the bid from Macquarie Infrastructure & Real Assets valued the stake at 2.65 billion euros ($3.1 billion) excluding debt.


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The deal also included adjustment and earn out mechanisms, it said.

($1 = 0.8468 euros)

(Reporting by Stephen Jewkes; editing by James Mackenzie)

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