Enel receives binding bid from Macquarie for Open Fiber stake

Reuters

Published Sep 17, 2020 11:16

MILAN (Reuters) - Italy's Enel (MI:ENEI) 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.

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