Macquarie is expected to present a binding offer for Enel’s 50 percent stake in Open Fiber by mid-September, according to Reuters. The offer is believed to value Open Fiber at €7.7 billion ($9.1 billion), including debt.
Open Fiber is an Italian telecommunications company that was established as a wholly-owned subsidiary of Italian energy company Enel in 2015. The company is jointly controlled with Italy’s state lender Cassa Depositi e Prestiti.
Macquarie and Enel began talks in June when Macquarie issued a non-binding bid for Enel’s stake in the telecom company. At that time, the deal was expected to fetch between €3 billion and €6 billion ($3.5 billion and $7 billion).
The Italian government is pushing for a consolidation between Open Fiber and Telecom Italia (TIM) to establish a single network; however, the deal has stalled during the past several months due t
