Poste Italiane and Ferrovie dello Stato on the market within the year if market conditions are favourable. It was the Economy Minister, Pier Carlo Padoan, who declared this to Italy24, making it clear that the Renzi government's intention is to relaunch privatization as soon as possible.
The government's goal is not only to raise cash to reduce the enormous public debt but to create the conditions to make public enterprises more efficient and give a signal to international investors that they are open to the market.
"Italy – Padoan argued – has done much more than other countries to progressively withdraw the presence of the state from the sectors of the economy where the market can be more efficient". However, "there are still sectors that can be opened up to competition with the aim of creating more efficiency, with better services for citizens: this is the case of the railways and postal services". But "we wanted to renew the top management of publicly owned companies operating in these sectors, because we do not want to sell off the national heritage but enhance it and to do so we have asked for the revision of the industrial plans".
Specifically, "in 2015 we will open the capital of these companies to private individuals, provided that market conditions allow us to create adequate values". “In the case of Poste Italiane, the IPO will be launched within the year” and similarly for Ferrovie dello Stato, if stock market conditions make it possible.
As for the sale of a further public stake in Enel, it is – explained the minister – “a listed company
and the transfer of a block of shares is a financial transaction to be carried out when market conditions are favourable”.
