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Enel and F2i in Talks

Italian power company, Enel, is in talks with F2i, an infrastructure investment fund, to sell up to 60 per cent of its gas network

Italian power company, Enel, is in talks with F2i, an infrastructure investment fund, to sell up to 60 per cent of its gas network.

One source said the stake could be worth about 2 billion.

Another of the sources said: "Enel is looking for a financial partner to sell 60 per cent of the gas network. Discussions are underway with F2i."

The sources added that an offer by Terna, the Italian grid operator, to buy a power grid could be delayed until early next year.

Enel, which is Italy's dominant power company, is looking to sell the networks to trim a debt pile built up last year to buy Endesa, a Spanish utility company. Enel's debt was 51.3bn at the end of June. The company aims to reduce it to below 50bn this year.

Author: Jo Amey