The sale by the government of a stake
in Poste Italiane will take place as part of a broader
"reorganization of public shareholdings", the economy ministry
said in a statement on Friday.
The government will decide when to sell a share in the postal,
financial and telecommunications services company and how much
to sell "'without haste on the basis of market conditions", for
the best result for the public and with respect for small
shareholders, the statement added.
The operation will be part of efforts to "bring order" to public
shareholdings, in which the government will assess whether to
dispose of some non-essential assets, sell shares in other
companies while retaining control if they are deemed to be
strategic or even to increase the shares in its possession.
The aim is to increase the efficiency of state holdings and to
raise cash to reduce public debt.
Earlier in the day Economy Minister Giancarlo Giorgetti said the
government needed to retain control of Poste Italiane and that
its stake should not fall below 35%.
The economy ministry currently holds 29.26% and Cassa Depositi e
Prestiti (CDP) 35% in the listed company.
In a letter addressed to Giorgetti and Poste Italiane CEO Matteo
Del Fante on Friday, the trade union federations Cgil, Cisl and
Uil asked the government for an "urgent" meeting on the planned
sale of a further stake in the group.
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