Italy: Enel Looks to Buy More Large Utilities

Enel SpA plans to buy large international utilities in coming months or years, said Chief Executive France Tato.

Tato also said Enel wanted majority or controlling stakes in any acquisitions and didn't believe in large alliances.

In the gas business, Enel said it was negotiating several acquisitions for a total of 40,000 customers, a step toward its goal to have 2 million gas customers by 2005. Enel has already completed 11 acquisitions in the sector.

In addition, Enel said it planned to invest about Euro8 billion in its electricity distribution business by 2005 to improve service quality and to establish system-wide remote metering.
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