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Italy’s CDP and Enel Dispel Rumors of OpEn Fiber Project Slowdown

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Cassa Depositi e Prestiti (CDP) and state-owned utility company Enel – joint-owners of Italy’s nascent ultrafast broadband provider Enel OpEn Fiber S.p.A. (OpEn Fiber) since 2016 – released a statement categorically denying rumors circulated in local news that the telecommunications firm was scaling back its business plan in response to the results of March 4, 2018’s elections.

A report published in Il Sole 24 Ore claimed that OpEn Fiber was at risk of losing the €3.5 billion financing package currently being developed in tandem with CDP and Enel to facilitate the company’s proposed plan to wire more than 250 cities across Italy with ultra-wideband fiber optic internet by 2020. It eventually hopes to cover the country’s less populated areas for a total cost of some €6.5 billion.

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SWFI First Read, September 19, 2018

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QIA Eyes Investment in Chinese Lender Lufax

The Qatar Investment Authority (QIA) is in talks about a possible investment into Shanghai-based Lufax, one of China’s largest online lenders. The seller of the possible stake is China’s Ping An Insurance (Group) Co. Ltd. Lufax’s official name is Shanghai Lujiazui International Financial Asset Exchange Co. Ltd.

Wealth Funds Back Hotpot Giant

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Japanese Government Capital Provides Initial Life for Texas Bullet Train

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Dallas-based Texas Central Partners, LLC is the developer of a proposed high-speed rail system, dubbed the Texas Bullet Train, between Dallas and Houston. Project costs are estimated between US$ 12 billion to US$ 15 billion. The developer secured US$ 300 million in project loans from Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Japan Bank for International Cooperation (JBIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DOJ Investing Tesla Over Musk Comments

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The U.S. Department of Justice (DOJ) is conducting a fraud investigation over Tesla as its CEO Elon Musk made public statements on twitter. This is a criminal probe. In addition, earlier, SWFI reported the U.S. Securities and Exchange Commission (SEC) is conducting a civil inquiry into Elon Musk regarding his statements.

This all surrounds Musk tweeting in August that he was thinking of taking Tesla private and had “funding secured” for the transaction. Both government authorities are seeing if Musk misled investors and violated federal securities laws with his public statements.

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