Poste Italiane S.p.A. (PST.VI)
- 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.
- Reuters
Italy picks KPMG to value digital payment platform PagoPA, sources say
Italy's Treasury has picked accounting firm KPMG to put a price tag on PagoPA, a company handling digital payments to the public administration, as it prepares to sell the business to the state mint and postal service Poste Italiane, people close to the matter said. The prospect of PagoPA changing hands, though it would remain under state-controlled entities, has spread alarm in Italy's crowded banking sector, where many small lenders are struggling to keep up with rapid changes in the payments sector. Banks look with concern at the increasing presence of non-bank digital payment providers such as Apple, Google-owner Alphabet or PayPal, and fear that Poste could use PagoPA to strengthen its position in the digital payments market.
- Reuters
Italy scales back plans to sell stake in Poste
Italy will retain 51% of Poste Italiane, the Treasury told unions on Thursday, scaling back a previous plan to cut the state's stake in the postal service to as low as 35% from 64% currently. The move highlights the government's difficulties in respecting its pledge to use asset sales to rein in Italy's massive public debt. Prime Minister Giorgia Meloni announced a decree in January to allow the Treasury to dispose all or part of its 29.3% stake in Poste while retaining control through another 35% stake held by state lender Cassa Depositi e Prestiti (CDP).
