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Italy hopes to reap €2bn from post service shares sale

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Italy hopes to reap €2bn from post service shares sale
Italy's Economy Minister Pier Carlo Padoan said the money would be used to pay down debt. Photo: Gabriel Buoys/AFP
08:22 CEST+02:00
The Italian government hopes to earn "around €2 billion ($2.2 billion) from the sale of more shares in Poste Italiane SpA, the country's postal service, Economy Minister Pier Carlo Padoan said on Tuesday.

The money will be used to reduce public debt, he told the Senate transport commission.

The sale concerns a 29.7 percent stake. A tranche of around 35 percent was sold last October.

The state will retain a 35 percent share in Poste Italiane through the Italian Deposit Bank in order to maintain indirect control.

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