Italy utilities agreeing merger letter of intent
MILAN, May 16 (Reuters) - Italian regional utilities Hera SpA (HRA.MI: Quote, Profile, Research, Stock Buzz), Iride SpA (IRD.MI: Quote, Profile, Research, Stock Buzz) and Enia SpA (EN.MI: Quote, Profile, Research, Stock Buzz) are close to completing a letter of intent that would eventually lead to a merger, the companies said on Friday.
They have agreed to a text for the letter of intent which will set guidelines for merger talks, the companies said in a joint statement. The letter will be signed in coming days.
Hera, Iride and Enia have been in merger talks for more than a year. (Reporting by Ian Simpson)
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