Enel planning Wind exit

13 Sep 2004

Paolo Scaroni, chief executive of Italian energy giant Enel, revealed at the end of last week that his company will sell telecom company Wind in the next two years as part of its wider strategy to focus the company on power generation by selling non-core assets. Enel had initially planned to sell Wind early next year, but has pushed back the sale due to unfavourable market conditions. Scaroni said an initial public offering is his preferred option for Wind, which he claimed would be cash positive by the end of 2004.