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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