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Snam holds on to Piazza Affari despite Eni's slip

In the umpteenth day of sales, Snam resists in Piazza Affari and is heading towards closing in substantial breakeven. Rumors of a reduction in Eni's stake in the capital have encouraged a market that has otherwise remained fearful. The acceleration of the decree on the spin-off counts.

Snam holds on to Piazza Affari despite Eni's slip

On a day still marked in red for Piazza Affari, Snam manages to limit losses to -0,7% at 16.00 at 3,13 euros, while Eni perfectly reflects the performance of the Ftse Mib and for now loses 3% with the share down to 15,42. In the opinion of the operators, the stock benefits from the acceleration impressed by the Government on Eni's descent into the capital: in the latest version of the decree which will be brought to the Council of Ministers tomorrow, as anticipated yesterday by Radiocor, in fact the 18 months to close the entire transaction and replaces it with the expression "in the shortest time compatibly with market conditions".

A formula which, according to insiders, represents an invitation to speed up both the sale of a stake in Snam "not less than 25,1%" to CDP is the descent of Eni to a maximum of 5% of the capital. In recent days, the Minister of Economic Development, Corrado Passera, had spoken of "very short times" for the separation of Snam from Eni. It should also be considered that recently the Snam share has remained rather cold in the face of the prospects outlined for the operation: the hypothesis that more than 20% of the capital ends up on the market, in fact, worries investors. Eni currently holds 52,53% of the capital while CDP's share will be at least 25,1%, with the ownership limit for a single subject at 5%.

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