Wind, the telecoms subsidiary of Italian energy conglomerate Enel, is facing the prospect of a second delay to its initial public offering schedule, after top executives at the parent company appeared to disagree about the timing of the float.

Chicco Testa, chairman of Enel, said on Tuesday he may wait until early 2002 before floating off the Wind unit, which could be worth as much as €7bn to Enel when it lists up to 25% of the business.