Chairman Piero Gnudi of Enel SpA (ENEL.MI) said Wednesday the Italian utility is "not far" from reaching a deal to sell its local high-voltage power lines to Terna SpA (TRN.MI).
Enel's chairman made the comment in an interview with Class CNBC. He didn't give a possible price.
Enel and Italian power grid Terna have been discussing for most of the year the sale of the electricity lines as part of the utility's efforts to reduce its large debt pile.
According to a recent report on daily Il Sole 24 Ore, Enel is close to selling its Italian power lines to Terna for about EUR1.2 billion, with the deal expected to be announced at the start of January.