MILAN, May 30 (Reuters) - Italy’s oil and gas group Eni will sell all of its 52.5 percent stake in gas network Snam in due course because it is not interested in holding a minority stake, Eni Chief Executive Paolo Scaroni said on Wednesday.
“We will exit from Snam completely... We are not in the business of financial stakes,” Scaroni told a news conference.
He said Eni was not planning to pay dividend with Snam shares.
Eni agreed on Wednesday to sell 30 percent minus one share in Snam to state-controlled holding company Cassa Depositi e Prestiti (CDP) for 3.517 billion euros ($4.36 billion) as part of the government plan for Eni to cut its stake in the gas company. ($1 = 0.8069 euros) (Reporting by Jennifer Clark)