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Italy considering sale of 15 pct stake in state lender CDP - report
March 10, 2017 / 6:58 AM / 9 months ago

Italy considering sale of 15 pct stake in state lender CDP - report

MILAN, March 10 (Reuters) - Italy’s Economy Ministry is examining the possible sale of a 15 percent share in state lender Cassa Depositi e Prestiti (CDP), leaving a majority stake in its hands, national daily Corriere della Sera reported on Friday.

This would bring about 5 billion euros ($5.30 billion) to state coffers, it added, without citing sources.

The report said the proposal is still in a preliminary phase and it is not clear whether the sale would be made to institutional investors or foreign funds or banks, the report added.

The Ministry owns an 83 percent share of CDP and national banking foundations hold 16 percent, with the remaining 1 percent held as treasury shares.

The Economy Ministry was not immediately available for comment. ($1 = 0.9441 euros) (Reporting by Giulia Segreti; Editing by Muralikumar Anantharaman)

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