The Treasury said at a press
conference on Friday that the price for shares in Italian postal
company Poste italiane in its upcoming IPO will be 6.75 euros.
The price is in the middle of the range of between 6.00
euros and 7.50 euros given previously.
Economy Minister Pier Carlo Padoan said that the stock
market flotation will generate almost 3.4 billion euros for the
Treasury.
He said that this money will be used to cut Italy's
massive public debt of over two trillion euros.
Padoan added that air-traffic services provider ENAV and
railway company Ferrovie dello Stato (FS) will be the next in
line for privatization.
"Privatizations remain a important part of the
government's efforts and they will continue in the coming months
with the involvement of ENAV and FS," he said.
As well as running Italy's postal service, Poste Italiane
also has a thriving banking and financial services arm.
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