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Sale of stake in post office could happen by summer

Govt official says Poste Italiane on block in five to six months

21 January, 14:59
Sale of stake in post office could happen by summer (ANSA) - Rome, January 21 - The Italian government could be prepared to sell a sizeable stake in the national post office within the next five to six months, the junior industry minister said Tuesday.

"It is imaginable that within a period between five and six months (we will) refine the details of the transaction," Antonio Catricalà told a hearing of the House transportation committee.

He has previously said that stake as large as 40% of the publicly owned Poste Italiane, which is controlled by the Italian government through the economy ministry, could be sold.

Tuesday, Catricalà said that selling the stake is important "to continue to create value".

Members of Premier Enrico Letta's cabinet have discussed the sale as a means of raising much-needed capital for the treasury of Italy, which has a debt of more than two trillion euros.