Enel Asked To Give Price Indication On Wind SpA Sale

ROME (Dow Jones)--A group of investors led by Italian financier Cesare Romiti said Thursday it has asked Enel SpA (EN) to outline the expected price parameters it has put on telecommunications company Wind SpA (WIF.YY), which the power major has put on the block.

The group plans on making an offer in the second week of January. "The consortium has asked Enel to clarify its expectations and parameters with an aim to submitting a bid in line with those expectations," it said in a statement.

The Romiti-led group, which includes Orascom Telecom Holding (ORE.CI) shareholder Naguib Sawiris, a French private equity firm led by Philippe Nguyen, and U.S. investor Wilbur Ross, made an earlier offer which was rejected by Enel earlier this month.

That offer valued Wind, Italy's No. 2 fixed-line carrier and No. 3 mobile operator, at more than EUR12 billion but was structured around an equity outlay of only around EUR2 billion, according to a person familiar with the earlier bid.

-By Vittorio Alessio, Dow Jones Newswires; +39-06-678 2543; vittorio.alessio@dowjones.com

(END) Dow Jones Newswires "

Posted to the site on 30th December 2004