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Chunks of Italy's post office, air agency up for sale

Italian cabinet approvals sale of parts of companies

24 January, 19:21
Chunks of Italy's post office, air agency up for sale (ANSA) - Rome, January 24 - The Italian cabinet has approved decrees to sell large chunks of the post office and its air traffic agency, sources said Friday. The government has said it wanted to sell off a 40% share of the national postal service, 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.

A similar-sized share will be offered in Enav, the Italian air traffic control company.

Economy Minister Fabrizio Saccomanni has said that a larger share of the postal service might be sold later.

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.

The government has also been discussing the sale of shares of numerous other holdings including energy company Eni.