May 14, 2019 / 10:05 AM / 11 days ago

Italy's Ascopiave to select bids for assets on sale in 3-4 weeks

MILAN (Reuters) - Italian utility Ascopiave has received a series of non-binding bids for assets it has put up for sale and will select the best bids in 3-4 weeks, the company’s chairman said.

“The offers are very satisfying”, Nicola Cecconato said in a conference call.

Ascopiave, one of Italy’s biggest gas utilities, is looking to sell a majority stake of a portfolio of more than 700,000 clients as it seeks to focus on its gas distribution network business in the north east of Italy.

Reporting by Stephen Jewkes

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