Business
Terna does not comment report on potential power grid stake sale
Terna does not comment report on potential power grid stake sale
About this update from Terna S.p.a.
Italy's power grid operator Terna MIL:TRN said on Friday it did not want to comment rumours when asked about a report by Bloomberg newswire hinting at a potential sale of a stake in the country's high-voltage network.WHY IT'S IMPORTANTThe state-controlled group said in March it would invest more than 23 billion euros ($26.8 billion) in Italy's power grid over the next ten years to help support energy transition.KEY QUOTE"Terna does not comment on rumours or speculation: the company constantly analyses the financial instruments available for the development and maintenance of the national transmission grid, the results of which are reflected in the decisions set out in the industrial plan," a spokesperson told Reuters.CONTEXTTerna is evaluating options including the sale of a minority stake in Italy's electricity grid, to pay for new projects and reduce debt, Bloomberg reported citing people familiar with the matter.($1 = 0.8575 euros)