April 26, 2018 / 2:29 PM / 3 months ago

Italy's Enel raises takeover bid for Brazil's Eletropaulo to $1.54 billion

SAO PAULO (Reuters) - Brazil power company Eletropaulo Metropolitana said in a securities filing that Italy’s Enel has raised its takeover bid for the company to 32.20 reais per share.

FILE PHOTO: People walk past the logo of Italy's biggest utility Enel at their Rome headquarter November 11, 2014. REUTERS/Tony Gentile/File Photo

The bid values Eletropaulo at 5.39 billion reais ($1.54 billion) and tops an offer by Neoenergia SA, controlled by Spain’s Iberdrola SA on Wednesday for the Brazilian company at 32.10 reais per share.

Reporting by Luciano Costa; Writing by Tatiana Bautzer; Editing by Chizu Nomiyama

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