ENLAY - Enel to sell up to 50% of Open Fiber to Macquarie

Italian utility Enel (ENLAY) says it will seek to sell its 50% stake in fast broadband company Open Fiber to Australian infrastructure fund Macquarie, a move that could open the way to the creation of a full-fiber national network.Enel says Macquarie would pay €2.65B (~$3.3B) for a 50% stake and would include the transfer of a shareholders' loan granted to Open Fiber worth €270M.The company says any deal to sell its whole 50% stake would be subject to Macquarie and state lender CDP sharing "modification of certain aspects that currently regulate the governance of Open Fiber."Also, Enel X, the company's advanced energy services business line, says it achieved record growth and key milestones across the business in 2020.

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Enel to sell up to 50% of Open Fiber to Macquarie