UPDATE 1-Edison Delmi investors give mandate on stakes-Enia CEO
* Proposals ready by summer break - Enia CEO
* Break-up of Edison more likely - broker Equita
* Edison shares rise more than 6 percent
(Adds analyst comment, share price)
by Giancarlo Navach
MILAN, June 19 (Reuters) - The members of Edison (EDN.MI) investor Delmi have mandated advisers to study options on their stakes in the Italian energy company, Enia's (EN.MI) CEO said on Friday, amid talk Edison could be broken up.
Delmi, of which Enia owns 15 percent, holds a 50 percent stake in Edison's biggest shareholder, Transalpina di Energia, and the rest is held by France's EDF (EDF.PA).
"We Delmi shareholders have given a mandate to a financial adviser and an industrial adviser, Bain Cuneo, to study the situation and have some plans on how to overcome the impasse on Edison," Enia Chief Executive Andrea Viero said.
"We expect proposals before the summer pause," he told Reuters by telephone. "All scenarios are open."
Other Delmi shareholders are Italian regional utility A2A (A2.MI), which holds 51 percent, and smaller utilities Sel and Dolomiti Energia.
Milan-based broker Equita said in a note on Friday "various solutions (regarding Edison) may be under study - but we believe the probability of a break-up of Edison is starting to increase".
Equita said an A2A-Edison merger would create the greatest value, but added that some press reports said the idea has been set aside due to political difficulties.
By 1346 GMT Edison shares were up 6.3 percent at 1.024 euros, its highest in more than one month, while the DJ Stoxx index of utilities SX6P was up 1.8 percent.
In the note, Equita upgraded Edison to "buy" from "hold", citing the speculative appeal of the stock. (Writing by Danilo Masoni; editing by Sue Thomas)
