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3 years ago
Italy to privatise postal service in early 2015 - Treasury official
September 18, 2014 / 11:33 AM / 3 years ago

Italy to privatise postal service in early 2015 - Treasury official

MILAN, Sept 18 (Reuters) - The Italian government will privatise the state-owned postal service early in 2015, a Treasury official said on Thursday, missing an initial deadline of carrying out the sale by the end of this year.

"Italy is looking to privatise some of Italy's major companies such as (postal service) Poste and (railways company) Ferrovie Italiane," said Fabrizio Pagani, head of office of Italy's Finance Minister, Pier Carlo Padoan.

"The privatisation of Poste will not happen this year, since we have some regulatory issues to tackle, but it is due early next year," he added.

Pagani also said the government is working on selling assets in local utilities and real estate sectors.

The Treasury had hoped to raise about 11 billion euros, equal to 0.7 percent of Italy's 1.6 trillion euro GDP, every year by selling stakes in companies, but market volatility has put a brake on the government's plans. (Reporting by Francesca Landini; editing by Oleg Vukmanovic)

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