Enel signals European expansion, posts 2005 profit surge

0 Comments | AFP, March, 2006

LONDON (AFP) — Italian electricity giant Enel said it was headed for takeover expansion in Europe but did not refer to French group Suez, as EU leaders gathered in Brussels for a summit covering energy and protectionism.

Enel chief executive Fulvio Conti, detailing the company's 10-year strategy to analysts and investors in the British capital, said Enel had funds to finance expansion and that if the board decided on a move, it would inform financial markets.

Conti, presenting also a 48.0-percent surge in 2005 net profits for Enel, said "further growth could be generated through new acquisitions abroad".

An Enel spokeswoman said the group had chosen London to present its strategy as the British capital is home to many analysts and investors.

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