"We aim to make a binding offer around mid-May and then, if it is accepted, we should move quickly towards the closing," Gallo said in a news conference after the group's annual general meeting in Turin.

Italgas said in March it had entered into exclusive talks with Veolia to buy the entire share capital or a majority stake in companies running water services in the regions of Lazio, Campania and Sicily.

In Turin, Gallo also said Italian national gas storage reserves were at the highest seasonal level in years, making it easier compared to 2022 to refill them ahead of the next winter season.

Italgas is a state-controlled company listed on the Milan stock exchange. Its leading shareholders are state lender Cassa Depositi e Prestiti (CDP), with a 26% stake, and gas grid operator Snam, with 13.5%.

(Reporting by Giancarlo Navach, writing by Alvise Armellini, editing Federico Maccioni)