Blackstone and Romiti consortium in possible alliance for Wind

Italian press reports reveal that a consortium led by the businessman Cesare Romiti could join forces with the US private equity fund Blackstone to buy Enel SpA's telecommunications unit, Wind. Newspapers report that Blackstone, along with Lehman Brothers, was scheduled to present a bid for 70% of Wind but the Romiti consortium convinced the fund to discuss an alliance. The parties are reported to be planning an offer of between €13-14bn for 100% of the telecommunications firm. The consortium formed by Romiti, which also includes French group Investors in Private Equity, Egypt's Sawiris family and US businessman Wilbur Ross, made the announcement of a planned new offer in December, after their original offer was rejected by Enel.

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• Southern Europe