Enel sees end-May rights issue go-ahead -source
MILAN, May 8 (Reuters) - Enel SpA (ENEI.MI: Quote, Profile, Research) should get the green light from market regulator Consob for its 8 billion euros ($10.7 billion) rights issue by the end of this month, a source close to the matter told Reuters.
"That way a board meeting to fix the conditions could be held on May 28," he said.
The source said the prospectus for the issue had been filed with Consob on Friday.
The offer period could run from June 1 to 19, he said, adding that anyone wanting to exercise their rights needed to do so before June 12.
The capital issue was approved by shareholders at the end of April and aims to bolster Enel's balance sheet after the acquisition of Spanish rival Endesa (ELE.MC: Quote, Profile, Research) while maintaining its single "A" credit rating. (Reporting by Stephen Jewkes; Writing by Nigel Tutt; Editing by David Holmes)
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