“The income deriving from the disposal of the additional stake in Poste Italiane, based on recent quotations, could be around around two billion euros”. This was stated by Economy Minister Pier Carlo Padoan during a hearing in the Transport Committee of the Chamber. The quota to which the number one of the Treasury refers is the residual 29,7% of Poste Italiane, which will be sold by the State after the announced contribution of 35% to Cassa depositi e prestiti.
"The placement operation in question - continued Padoan - would fulfill the objective of activating significant resources to be allocated to debt reduction, while maintaining state control over the company".
The 35% share transferred to the Cassa, explained the minister, “represents the percentage of capital that allows the State to continue to hold control of the company indirectly through Cdp, being the relative majority share and control in the presence of widespread shareholding on the market". The shareholding structure will thus be similar to that of other state-controlled companies such as Eni, Enel and Leonardo-Finmeccanica.
“In essence – Padoan underlined – the stake in Poste Italiane which will be transferred to CDP it cannot be transferred nor be the subject of any provision by the CDP itself without the prior consent of the ministry. In addition, the ministry will provide CDP with voting instructions in both ordinary and extraordinary shareholders' meetings.
Following the transfer to the separate management of Cdp, he added, "the ministry will retain government powers over the Italian Post Office, replicating the governance structure already present for Eni". In short, "there is no sell-off - concluded the minister - there is an efficiency improvement of the postal service, as demonstrated by the investments made by Poste".
Before the same commission, the CEO of Poste, Francesco Caio, he said he had “read about concerns about one stew”, but assured that “this is not in management's plans approved by the Council and by the Assembly. The management moves within the context of an industrial plan whose center is inclusive development. With an integrated company and articulating the business objectives in each of the sectors in which we operate”.
