Italy: the publicly owned energy company ENEL will be going on the market in June with half of its TERNA distributor capital up for sale. The buy out is expected to begin on 21 June and should bring in around EUR 1.7 bn. ENEL controls all of TERNA's capital but will sell a billion shares, representing 50% of its capital, with a quarter being reserved for the public. TERNA will be merging with the national electricity company that manages the grid by October 2005. In July 2007 at the latest,...