Italy plans to sell a stake of up to 13% in postal service group Poste Italiane S.p.A. (BIT:PST), opens new tab, its industry ministry told parliament on January 23, 2024. The stake sale is part of government plans to raise roughly EUR 20 billion ($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 S.p.A. (CDP) plan to cut their stakes in Poste Italiane without going below 51%.

The economy ministry has a 29.3% stake in Poste which is worth almost EUR 4 billion at current market prices, while CDP owns an additional 35%. "The sale will not jeopardize public service delivery and will guarantee jobs of all workers involved," the ministry added. Both CDP and the Treasury declined to comment.