Enel takes stake in LatAm fiber optic network

Enel takes stake in LatAm fiber optic network

M&A Funds Equity Telecoms

Italy's Enel said it has agreed to spend €150m ($175m) for a minority stake in Ufinet, a fiber optic network operator in Latin America.  The private equity firm Cinven will transfer ownership of Ufinet to a vehicle company called NewCo. Enel will own 21% of NewCo and Cinven will own 79%, but the two companies will share equal control of Ufinet, the Italian state-owned power company said in a statement. Enel has the option to acquire all of Ufinet for another €1.32bn to €2.1bn between the end of

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