Enel SpA (ENEL.MI), Italy's biggest utility by market value, said Friday that according to preliminary results it owns more than 50% of OAO OGK-5 (OGKE.RS) following the end of its tender bid for the Russian electricity generator.
Enel's bid finished earlier this month. In November it made a public offer to buy the 62.85% of OGK-5's share capital it didn't own. At the time it said that in the event all shareholders accept, the maximum price it would pay would be about EUR2.74 billion.
In a statement, the Rome-based utility said it plans to announce the final outcome of the tender "in the following days" once it's informed by the relevant Russian authorities.