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Spain's Gas Natural to sell telcos affiliate to Cinven

Published June 9, 2014 Updated June 9, 2014 06:33am

1 min

By Shoaib Ur Rehman

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MADRID: Spanish utility Gas Natural said on Monday it had agreed to sell its telecommunications affiliate to private equity firm Cinven for 510 million euros ($694.4 million).

Gas Natural will book capital gains of around 250 million euros, before tax, from the sale of Gas Natural Fenosa Telecomunicaciones (GNFT), the Spanish group said.

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