Previous close | 13.00 |
Open | 13.50 |
Bid | N/A x N/A |
Ask | N/A x N/A |
Day's range | 13.50 - 13.50 |
52-week range | 8.07 - 13.50 |
Volume | |
Avg. volume | 34 |
Market cap | 17.488B |
Beta (5Y monthly) | 0.90 |
PE ratio (TTM) | 8.49 |
EPS (TTM) | 1.59 |
Earnings date | 15 May 2024 |
Forward dividend & yield | 0.87 (6.44%) |
Ex-dividend date | 24 Jun 2024 |
1y target est | N/A |
The planned sale of the Italian government's stake in postal service Poste Italiane could be worth around 4.4 billion euros ($4.76 billion), Economy Minister Giancarlo Giorgetti said on Wednesday. The Treasury intends to sell all or part of its 29.3% direct stake in Poste, while retaining control through another 35% held by state bank Cassa Depositi e Prestiti (CDP). "Italy will carry out the transaction at the time most appropriate to maximize the revenue," Giorgetti said during a parliamentary hearing.
ROME (Reuters) -Italy plans to sell a stake of up to 13% in postal service group Poste Italiane, its industry ministry told parliament on Tuesday. The stake sale is part of government plans to raise roughly 20 billion euros ($21.67 billion) through asset sales between 2024 and 2026 to keep in check the euro zone's second-largest debt pile as a proportion of gross domestic product (GDP). In a written response to a parliamentary question, a copy of which was seen by Reuters, the industry ministry said both the Treasury and state lender Cassa Depositi e Prestiti (CDP) plan to cut their stakes in Poste Italiane without going below 51%.
Private equity firm Cinven has agreed to buy back 160 million euros ($170 million) of debt sold by its insurer Eurovita and is open to supporting other measures to avoid a messy liquidation of the Italian company, a person with knowledge of the situation told Reuters. Cinven this month signed an accord with GIC, Singapore's sovereign fund, and another two investors to purchase from them 140 million euros of Tier2 Eurovita bonds, the source added. GIC and Eurovita had no comment.