Italy’s antitrust authority has reportedly launched an inquiry into the Enel sale of its close to 30% stake in grid owner Terna to the state-controlled Cassa Depositi e Prestiti (CDP).
The authority has launched the investigation over concerns that, should the deal go through, CDP will be a major shareholder of both Terna and Enel, in which it already holds more than 10%.
Concerns have been raised that CDP could manage its Terna stake in order to boost profits at Enel, despite the fact that under the terms of liberalisation Enel is supposed to be run independently of the grid.
The inquiry is expected to take 45 days.