Sovereign wealth funds eye Eni’s Snam stake

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Sovereign wealth funds from Qatar and Abu Dhabi are among potential  bidders considering the purchase of Eni’s remaining 22.5% stake in midstream infrastructure company Snam, according to reports over the weekend. Eni is carrying out the Italian government-enforced sale of its Snam shareholding as part of the Monti government’s drive to increase gas market competition, and on Friday signed an agreement for the sale of 30% of Snam to state holding company Cassa Depositi e Prestiti (CDP).

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