Poste Italiane S.p.A. (PST.VI)
- Reuters
Italy approves decree to sell around 14% stake in Poste Italiane
Italy approved on Tuesday a decree allowing the Treasury to sell a stake of up to 14% in postal service Poste Italiane, Prime Minister Giorgia Meloni's office said in a statement. Under the decree, the state plans to retain more than 50% stake in Poste, the statement said. The Treasury directly owns a 29.3% stake in the postal service, while another 35% stake is held through state lender Cassa Depositi e Prestiti (CDP).
- Reuters
Italy's Poste improves outlook after Q2 profit beats forecast
MILAN (Reuters) -Poste Italiane slightly raised its full year profit goal on Tuesday, after operating profit fell less than expected in the second quarter supported by a strong performance of the postal service's traditional parcel and mail business. Earnings before interest and tax (EBIT) came in at 782 million euros ($846 million) in the three months to the end of June, down year-on-year but well above a 713 million euro forecast in an analyst consensus compiled by the company. In 2023, second quarter EBIT stood at 799 million euros boosted by a non-cash capital gain on an acquisition.
- Reuters
Italy delays approval of Poste stake sale, sources say
Italy has held off approval of a decree to sell a stake in Poste Italiane, people familiar with the matter told Reuters, following resistance from ruling and opposition parties to loosen the state's grip on key public services. As part of its drive to sell state assets to rein in Italy's massive public debt, the government approved a decree in January allowing the Treasury to sell all or part of its 29.3 stake in the postal service, while retaining control through another 35% stake held by state lender Cassa Depositi e Prestiti (CDP). However, following widespread criticism for selling part of a strategic company, the Treasury told union representatives in May it would review the decree to place a smaller 13% stake, keeping 51% in state hands.
