Article Abstract:
Italy's state electricity corporation Enel, which owns about 80 percent of the nation's generating capacity, believes the Feb 1999 conculusion of the nation's parliamentary examination of Industry Minister Pierluigi Bersani's decree of Nov 1998 was a major step toward privatization. Bersani intended only to implement the European Union's utility-competition directive, but Enel managing director Franco Tato believes it may have implications for privatization, noting that the country could float as many as three utilities with 5,000MW capacity each and sell them to any interested parties. Many Italian firms prefer to gather a controlling core of shareholders, a strategy Tato scorns. The Bersani degree led to furious debate in the parliamentary business commissions that ultimately pleased no one.
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Article Abstract:
Saudi Arabia has awarded a contract to a North American consortium to advise it on how the private sector should become involved in the country's electricity generating companies. The contract requires the group, comprising U.S. companies EMT & Associates and White & Case and Canada's Group INC Strategy & Development, to look at the various options, including build-operate -transfer projects.
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Article Abstract:
Italy's new government will make privatization a priority says its leader Romano Prodi. One of his first actions will be the disposal of the state's remaining stake in state insurer INA and the sell-off of a further stake in hydrocarbons holding company ENI. Other privatizations on the agenda include state electricity utility ENEL and telecom holding company Stet.
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