Enel plans cut to minority buyouts - sources

lunes 13 de octubre de 2014 12:09 GYT
 

ROME Oct 13 (Reuters) - Italy's biggest utility company Enel will cut the amount set aside to buy out minority investors of its subsidiaries in a new business plan that will be unveiled in March, two sources close to the plan said.

The sources did not give details about the planned cut because the group, led by Chief Executive Francesco Starace, has not yet taken a decision on the issue.

Enel declined to comment.

In its 2014-2018 business plan, Enel allocated 9.7 billion euros ($12.3 billion) for acquisitions and minority buyouts to help increase the contribution of group net profit to total net profit to 76 percent from 65 percent.

(1 US dollar = 0.7889 euro) (Reporting by Alberto Sisto)