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Cabinet to approve post-office privatisation

Initial sale of 40%, 'then we'll see' says economy minister

23 January, 16:08
Cabinet to approve post-office privatisation (ANSA) - Davos, January 23 - The government could give the go-ahead to plans to privatise 40% of the national postal service at a cabinet meeting on Friday, Economy Minister Fabrizio Saccomanni said.

The government has been in talks to sell part of Poste Italiane Spa for at least four billion euros by the end of the year as part of efforts to raise much-needed capital to offset Italy's huge debt. "We will start with 40% of Poste (Italiane SpA). Then we'll see," said Saccomanni on Thursday. Poste Italiane is a public company but is controlled by the Italian government with the sole shareholder being the economy ministry.

It offers both postal and financial services.

Speaking on the margins of the World Economic Forum in Davos, Switzerland, Saccomanni also denied the risk of deflation in Italy along the lines of the decrease in the general price level of goods and services that has gripped the Japanese economy for over 15 years.