Previous close | 12.23 |
Open | 12.16 |
Bid | 11.99 x 0 |
Ask | 12.13 x 0 |
Day's range | 12.06 - 12.16 |
52-week range | 9.34 - 12.98 |
Volume | |
Avg. volume | 18 |
Market cap | 15.641B |
Beta (5Y monthly) | 0.88 |
PE ratio (TTM) | 8.32 |
EPS (TTM) | N/A |
Earnings date | N/A |
Forward dividend & yield | 0.80 (6.63%) |
Ex-dividend date | 24 Jun 2024 |
1y target est | N/A |
Italy's Treasury has picked accounting firm KPMG to put a price tag on PagoPA, a company handling digital payments to the public administration, as it prepares to sell the business to the state mint and postal service Poste Italiane, people close to the matter said. The prospect of PagoPA changing hands, though it would remain under state-controlled entities, has spread alarm in Italy's crowded banking sector, where many small lenders are struggling to keep up with rapid changes in the payments sector. Banks look with concern at the increasing presence of non-bank digital payment providers such as Apple, Google-owner Alphabet or PayPal, and fear that Poste could use PagoPA to strengthen its position in the digital payments market.
Italy will retain 51% of Poste Italiane, the Treasury told unions on Thursday, scaling back a previous plan to cut the state's stake in the postal service to as low as 35% from 64% currently. The move highlights the government's difficulties in respecting its pledge to use asset sales to rein in Italy's massive public debt. Prime Minister Giorgia Meloni announced a decree in January to allow the Treasury to dispose all or part of its 29.3% stake in Poste while retaining control through another 35% stake held by state lender Cassa Depositi e Prestiti (CDP).
Italian Prime Minister Giorgia Meloni said on Friday that her government has not yet taken any decision regarding the possible sale of further stakes in Poste Italiane, adding that the company would in any case remain under state control. "We haven't taken any decisions, but ... I want to be clear on one thing: there is no way in the world that Poste Italiane can be privatised as long as I head the government of this nation," Meloni told an event in the northern city of Trento. The Italian state owns about 65% of Poste via state lender Cassa Depositi e Prestiti (CDP) and via the Economy Ministry, which intends to sell all or part of its 29.3% direct stake, while retaining control through another 35% held by CDP.