SHARE
COPY LINK

Italy hopes to reap €2bn from post service shares sale

The Italian government hopes to earn "around €2 billion ($2.2 billion) from the sale of more shares in Poste Italiane SpA, the country's postal service, Economy Minister Pier Carlo Padoan said on Tuesday.

Italy hopes to reap €2bn from post service shares sale
Italy's Economy Minister Pier Carlo Padoan said the money would be used to pay down debt. Photo: Gabriel Buoys/AFP

The money will be used to reduce public debt, he told the Senate transport commission.

The sale concerns a 29.7 percent stake. A tranche of around 35 percent was sold last October.

The state will retain a 35 percent share in Poste Italiane through the Italian Deposit Bank in order to maintain indirect control.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.