Enel sale raises Eu2.2bn but questions remain over Morgan Stanley’s holding

October 31, 2003 12:00 am

Italy's government sold a 6.6% stake, comprising 400m shares, in electricity generator Enel this week in the largest straight equity offering of the year. But the deal, which is an attempt to repeat the success of Citigroup's jumbo Eu2bn KPN block trade, proved a hard sell to investors.

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