By Alberto Delclaux

Both Enel SpA (ENEL.MI) and Iberdrola SA (IBE.MC) have received the greenlight from Brazil's antitrust agency CADE for their rival bids targeting Eletropaulo Metropolitana Electricidade de Sao Paulo S/A (ELPL3.BR), according to regulatory filings.

with the Administrative Council for Economic Defense show.The tender will take place June 4, while the deadline to amend the existing bids is Thursday next week. The board of Eletropaulo has until May 30 to give an opinion on the offers.

Enel's bid at 32.2 Brazilian reais ($8.73) a share is slightly higher than Iberdrola's, which is offering BRL32.1 a share through its Brazilian subsidiary Neoenergia S/A (NEOE3B.SM).

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

May 18, 2018 03:57 ET (07:57 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
Enel (BIT:ENEL)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Enel.
Enel (BIT:ENEL)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Enel.