May 6, 2020 / 6:08 PM / 25 days ago

BRIEF-Enel CFO says coronavirus put brake on M&A but sees new phase end-year

May 6 (Reuters) - Enel Chief Financial Officer Alberto De Paoli told analysts in a conference call:

* THERE IS NO MATERIAL IMPACT FROM COVID-19 ON RENEWABLE ENERGY PIPELINE

* THE RENEWABLE ENERGY MARKET IS SO BIG THERE IS SPACE FOR BIG COMPETITORS WITHOUT ANY MAJOR MARGIN COMPRESSION

* EXPECTS TO SIGN AGREEMENT FOR AFRICA RENEWABLE ENERGY JV DEAL BY YEAR END

* CORONAVIRUS CRISIS HAS PUT BRAKE ON M&A BUT EXPECTS NEW PHASE IN LAST PART OF YEAR

* CRISIS COULD OPEN UP M&A OPPORTUNITIES MAINLY FOR THOSE WITH “BIG FINANCIAL SHOULDERS”

* THERE IS NO RISK ON DIVIDEND PAYMENT

* ASKED ABOUT OPEN FIBER, PRIORITIES HAVE CHANGED, A PRIORITY IS TO SPEED UP DEVELOPMENT OF THIS PROJECT AS WELL AS POWER SERVICE CONTINUITY

* CRISIS HAS SHOWN THE CENTRAL ROLE OF FIBER OPTIC NETWORK IN A COUNTRY Further company coverage: (Reporting by Milan Newsroom)

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