The electricity firm ENEL has announced the acquisition of a 40% stake in the Italian gas company CAMUZZI, one of Italy's main gas distributors and number one in Argentina, for 343 million euro. This operation seems to be a first step towards a total takeover of CAMUZZI, as ENEL has concluded an agreement with MILL HILL INVESTMENT, 100% shareholder in CAMUZZI, for an option to buy the remaining 60% of the capital by end-2002.