Italy's power sector prepares for rivals

Article Abstract:

Italy's local electricity firms are preparing to attract more customers and to meet market changes including higher prices, foreign rivals, and institutional market changes, as the government prepares to deregulate the industry. The European Union has ordered Italy to open at least 22% of its electricity market by February 19, 1999, and at least 33% by 2003. Both the Italian government and industry members expect the Parliament to meet the February 1999 deadline. Some companies signed a deal with Edison, an electric producer in Italy, that calls for Edison to supply electricity to 34 firms.

Comment:

Italy: Local electricity cos prepare to attract customers & meet mkt changes as government prepares to deregulate the ind

Government regulation (cont), Electric Power Generation, Transmission and Distribution, Electric Utilities, Municipal & Regional, Municipal electric utilities

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ENEL, Entergy abandon joint venture

Article Abstract:

ENEL SpA, an Italian state power producer, and Entergy Corp. of New Orleans, LA, abandoned their proposed five-trillion-lire ($2.82 billion) electricity-generation joint venture called Ente Nazionale per l'Energia Elettrica SpA. Plant upgrade costs and the exclusion of two power plants being built in the UK prompted the two companies to dump the planned joint venture. The end of joint venture talks may be more of a delay for ENEL than a setback because there are several firms interested in pursuing ENEL for similar transaction.

Comment:

Abandons proposed electricity-generation joint venture called Ente Nazionale per l'Energia Elettrica SpA w/ Entergy

United States, Joint ventures, Facilities & equipment, Electric Power Generating, Electric Power Generation, Entergy Corp., ENEL SpA

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MPS kicks off its road show for IPO

Article Abstract:

Monte dei Paschi di Siena (MPS) has launched its initial public offering (IPO). The IPO will involve 25% of MPS' capital. However, it could reach 28% if the company includes the green-shoe option and bonus shares. MPS' worldwide IPO will put up to 523.4 million shares according to Marco Mazzucchelli, the company's chief financial officer. The green-shoe option will be reserved for institutional investors.

Comment:

Launches initial public offering

Commercial Banks, Commercial Banking, Organizational history, Banking industry, Abstract, Securities, Monte dei Paschi di Siena

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