Spain’s Gas Natural to sell telcos affiliate to Cinven: Reuters

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.

($1 = 0.7345 Euros)

(Reporting by Paul Day; Editing by Jose Elias Rodriguez)