Italy raises €2.2bn in sale of Enel stake

Italy raises €2.2bn in sale of Enel stake
Italy raised €2.2 billion in a sale of 5.7 percent of electricity company Enel. Photo: Filippo Monteforte/AFP
Italy raised €2.2 billion in a sale of 5.7 percent of electricity company Enel, the economy and finance ministry said on Thursday, as part of a €10 billion privatization effort.

The sale, which was postponed from last year due to poor market conditions, brings the state's stake in Enel to 25.5 percent.

Italy also plans initial public offerings this year of its postal service, air traffic controller Enav and FS rail company as it seeks to raise funds to help pay down its massive debt.

Italian Finance Minister Pier Carlo Padoan said last week he was not satisfied with the pace of privatization.


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