International and local investors are indicating strong support of the Italian government's Eu9bn to Eu12bn sale of shares in Enel, the national electricity giant. The transaction has two weeks to go before pricing over the weekend of October 30 and the book of demand is already well covered. One salesman in London said: "International investors are most interested in buying large, liquid blue chip stocks - something that they can easily value, with decent cash earnings and a stable regulatory environment."
October 15, 1999