Investor group bids for Wind

17 Dec 2004

A group of investors led by Italian businessman Cesare Romiti has entered a cash bid for control of mobile operator Wind. The cellco is reportedly worth over EUR12 billion (USD16.07 billion), but the value of the bid has not been disclosed. Wind is owned by state-controlled utility Enel, which says it hopes to make around EUR13 billion – the value of the cellco plus its debt – from the sale; it has already rejected one bid from Romiti earlier this year.