Enel Has No Formal Bids For Wind

BRATISLAVA (Dow Jones)--Italian power company Enel SpA (EN) has not received any formal offers for its telecommunication unit Wind SpA (WIF.MI), Chief Executive Paolo Scaroni said Thursday. "We have received expressions of interest (for Wind), but we are looking at our initial public offering plan," as our main option, Scaroni told reporters at a press conference.

Enel's CEO declined to give further details on the matter.

According to people close to the situation, the U.S. private equity firm Blackstone Group (BGP.XX) and Weather Investment are interested in acquiring Wind.

Weather Investment is a consortium comprising the Sawiris family that owns Egypt's Orascom Telecom Holding (ORTE.CI), the French private equity group IPE and U.S. investor Wilbur Ross.

Enel values Wind at EUR13 billion and intends to float it sometime in 2006.

-By Vittorio Alessio, Dow Jones Newswires; +39 3385780186, vittorio.alessio@dowjones.com

(END) Dow Jones Newswires"

Posted to the site on 17th February 2005