July 25, 2018 / 1:20 PM / 3 months ago

UPDATE 1-Italy's transport minister orders dissolution of Ferrovie's board

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ROME, July 25 (Reuters) - Italy’s transport minister said on Wednesday he had begun the procedure to dissolve the board of state-owned railways group Ferrovie dello Stato (FS).

The move comes after Italy’s new anti-establishment government had repeatedly flagged the intention of replacing Ferrovie’s chief Renato Mazzoncini, who had been appointed by the former centre-left government led by Matteo Renzi.

“I have just signed the dissolution of the entire board of FS,” Danilo Toninelli said in a post on Facebook.

The dissolution needs the approval of Italy’s Finance Ministry, which fully owns the railways group - a move seen as a formality.

Reporting by Francesco Guarascio; Editing by Giselda Vagnoni and Alison Williams

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