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Shares in Poste Italiane fall 1 pct after Treasury unveils stake sale
May 26, 2016 / 7:16 AM / a year ago

Shares in Poste Italiane fall 1 pct after Treasury unveils stake sale

MILAN, May 26 (Reuters) - Shares in Poste Italiane fell at the market open after Italy’s Treasury said late on Wednesday it would list another 30 percent of the national post office.

The stake placement will follow the transfer of a 35 percent holding in Poste Italiane to state agency Cassa Depositi e Prestiti and will result in the government completely selling out of the group whose privatisation started last year.

Italy sold in October a 35 percent stake in Poste in a stock market listing that netted 3 billion euros ($3.35 billion).

By 0706 GMT shares in Poste Italiane fell 1 percent to 6.78 euros -- slightly above its IPO price 6.75 euros. Italy’s blue-chip stock index lost 0.4 percent. ($1 = 0.8956 euros) (Reporting by Valentina Za, editing by Steve Scherer)

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