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Govt could sell 40% of postal service by year-end

Sale of share in public asset could yield four billion euros

10 January, 15:53
Govt could sell 40% of postal service by year-end (ANSA) - Rome, January 10 - The Italian government has been in talks to sell up to 40% of the postal service for at least four billion euros by the end of the year, a senior government official said Friday.

Antonio Catricalà, deputy industry minister, said that between 30% and 40% of the national postal service could be sold, and a deal is "plausible within the year".

But the majority of ownership "will remain with the State," he added.

Members of Premier Enrico Letta's cabinet discussed the sale on Thursday as a means of raising much-needed capital for the treasury of Italy, whose debt of over two trillion euros makes it one of the largest debtor nations in the world. Poste Italiane is a public company but is controlled by the Italian government, whose sole shareholder is the economy ministry.