May 18, 2018 / 7:36 PM / 5 months ago

Enel would look at EDP assets in case of break-up - source

MILAN, May 18 (Reuters) - Italy’s biggest utility Enel would look at any assets of smaller rival EDP that came to market in case of a break up of the Portuguese energy group, a source familiar with the matter said on Friday.

Earlier this month China’s state-owned utility China Three Gorges launched a bid to take control of Portugal’s biggest company in a deal that would be worth 9.07 billion euros ($10.7 billion).

Enel, which controls Spanish utility Endesa, has previously said it is not interested in large-size acquisitions but would consider smaller bolt-on deals.

In an interview with Reuters in April Enel CEO Francesco Starace said the group would look at assets in Europe that came to market from break-ups.

Europe’s biggest utility is currently locked in a bidding war with Spain’s Iberdrola to buy Brazil’s largest power distribution company Eletropaulo Metropolitana SA . ($1 = 0.8495 euros) (Reporting by Stephen Jewkes Editing by Catherine Evans)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below