Finance ministry reaches 6.5 bn target with privatisations

ENEL and Poste Italiane together with Enav and MPS Monti bonds

(ANSA) - Rome, October 30 - Italy's Finance Ministry on Friday said that with the recent partial privatisation of Italy's postal company Poste Italiane, the government has reached its 2015 target of 6.5 billion euros of revenue to be used to pay down public debt.
    The Treasury Department said the funds came from four different operations and by law must be used to pay down public debt.
    The postal system privatisation involved a sale of 34.7% of capital which brought in about 3.1 billion euros.
    In addition, the Finance Ministry said the sale of 5.74% of capital in electricity and gas utility ENEL netted 2.2 billion euros, extraordinary dividends for surplus capital from the sale of state-owned air traffic controller ENAV brought in 200 million euros, and 1.1 billion euros came from the reimbursement of so-called Monti bonds it issued to troubled bank Monte Paschi di Siena.
   

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