Goldman Sachs and Morgan Stanley have won the sought-after roles as bookrunners alongside Merrill Lynch and Mediobanca of the €8bn ($9.8bn) offer in Enel, the Italian utility, which could launch this month.

The deal could be one of the largest global equity offers this year. The government had said it would sell its stake at the beginning of November but analysts say that the bookbuilding could start on September 13 as Enel is releasing results on Friday.