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Post office, possible new tranche

Chief Executive Francesco Caio said he expects the Treasury to reduce its stake. It will take some technical steps and new decrees but the operation would be in line with the European requests for public debt reduction and with the other operations already completed by the Treasury on former public companies where the controlling share has progressively dropped to 30%

(Teleborsa) – A tranche bis of Poste Italiane on the Stock Exchange? It is being discussed in these hours, after CEO Francesco Caio said he expected the Treasury to further reduce its stake, which currently exceeds 64,7%.

According to the manager, the Treasury's share could be reduced by up to 30%, by placing another tranche within this year, after the great success of the IPO last October.

Naturally, the number one of Poste specified that "legislative passages are needed" for the privatization operations, but he also recalled that currently the shares that the Treasury holds in listed companies are around 30%.

Italy then undertook with the EU to reduce the deficit and, with the postponement of the privatization of Ferrovie dello Stato, the government could decide to sell a further tranche of Poste.

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