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Deals

Macquarie to present binding offer for Enel's 50% stake in Open Fiber: paper

FILE PHOTO: A Enel Group manhole cover is seen in the street in Perugia, Italy, June 23, 2017. REUTERS/Alessandro Bianchi

MILAN (Reuters) - Infrastructure fund Macquarie is preparing a binding offer for Enel's ENEI 50% stake in broadband joint venture Open Fiber, Italian daily Il Sole 24 Ore said on Friday.

The offer, which should be presented by early-September, would value Open Fiber 7.7 billion euros ($9.1 billion), including debt.

Macquarie approached Enel in June with an initial offer for its stake in Open Fiber, which is jointly controlled with Italy’s state lender CDP, and talks between the two companies had been extended.

($1 = 0.8431 euros)

Reporting by Giulio Piovaccari, editing by Giselda Vagnoni

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