Poste Italiane price 6.75 euros, IPO to generate 3.4 bn

(ANSA) - Rome, October 23 - 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.