Enel backs out of IPSE deal

4 Jan 2005

Italian utility company Enel has abandoned talks to acquire defunct telecoms operator IPSE. At the end of December Enel offered EUR792 million for IPSE, which is one of five companies to hold an Italian 3G phone licence. However, it has now terminated talks after allegedly failing to reach agreement with IPSE’s owners regarding ‘some fundamental elements of the acquisition’. IPSE’s owners include ACEA, Capitalia, Edison, Fiat, Telefónica Móviles and TeliaSonera.

Italy, Ipse 2000