Weather completes Wind deal

The long-running sale saga of Italian telco Wind is finally over, following the completion of the sale of a 62.75% stake in the company by power company Enel. The Orascom Telecom-led Weather Investments consortium has paid USD3.7 billion in cash for the stake and Enel has the option to sell the remaining 37.25% of the telco for USD412 million in the first half of 2006. Other investors in Weather include French group IPE and US tycoon Wilbur Ross.