MILAN, April 2 Italian oil and gas group Eni said on Wednesday the idea of it selling a stake in its Area 4 gas acreage in Mozambique had been welcomed by the country's president.
The comments came after a meeting between Eni CEO Paolo Scaroni and the President of the Republic of Mozambique, Armando Guebuza.
"The possibility of enlarging the shareholder base of Area 4 was favourably received by the President, as this would further strengthen the project," Eni said in a statement on the meeting.
Sources told Reuters on Monday Eni had hired Bank of America Merrill Lynch to advise on the sale of a stake of about 15 percent in its Mozambique gas field which could raise up to $5 billion. (Reporting by Stephen Jewkes; Editing by Oleg Vukmanovic)