Oct. 12, 2000Italy’s largest power company Enel has completed the purchase of Infostrada from Vodafone in a deal estimated to be worth 11 billion euros, according to a report from BBC News.
Enel is expected to merge Infostrada with its other telecom companies in Italy. The power company already has a joint venture with France Telecom called Wind, the third largest mobile phone operator in Italy. The two operators combined will have about 1135 mobile and fixed line subscribers in the country.
Enel expects the merged company to generate revenues of about $2.25 billion in the coming year.
The France Telecom stake in the new company will be reduced to 26.6% from 43.5%. It can still buy up to 32.5% of Wind/Infostrada for two and a half years after it is listed.