The two public giants – the State Railways and the Italian Postal Service – which the Renzi government program has placed at the top of privatizations are moving towards the landing on the market.
For the placement of FS, the Treasury has appointed its advisors, who are Bank of America and the Cleary Gottlieb Steen & Hamilton firm. Tomorrow the new consultants will be at the Treasury for a first technical meeting while next week the ministerial task force will meet with the participation of the president of FS Marcello Messori and the CEO Michele Mario Elia.
The objective of the Treasury, in agreement with the Fs, is to reach privatization within the first months of 2016 but the first step to take is to choose the methods of privatization which should concern 40% of the group.
Meanwhile, the other public group, the Italian Post Office, is also moving towards privatisation. After the presentation of the new industrial plan, CEO Francesco Caio announced that the IPO on 40% of the group should take place in the last part of the year.
With the double privatization, the Treasury intends to raise cash to improve public finances but also to bring more market to the heart of the state.
