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Poste Italiane S.p.A. (PST.VI)

Vienna - Vienna Delayed Price. Currency in EUR
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12.39-0.05 (-0.40%)
At close: 05:32PM CEST
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  • Reuters

    Italy's Poste sees profit drop after bond-driven gains

    MILAN (Reuters) -Operating profit at Poste Italiane fell 8% in the first quarter despite slightly higher revenues, due to the sharp gains the postal service pocketed a year ago when it sold some of its Italian government bonds. Poste has diversified away from its core mail and parcel business over time and its insurance division is its biggest profit contributor. Poste, which manages 313 billion euros in postal savings, is a major investor in the country's government bonds which account for the bulk of some 100 billion euros in state bonds held by the group - two thirds of its investment portfolio.

  • Reuters

    Italy could raise 4.4 billion euros by selling 29% stake in Poste

    The planned sale of the Italian government's stake in postal service Poste Italiane could be worth around 4.4 billion euros ($4.76 billion), Economy Minister Giancarlo Giorgetti said on Wednesday. The Treasury intends to sell all or part of its 29.3% direct stake in Poste, while retaining control through another 35% held by state bank Cassa Depositi e Prestiti (CDP). "Italy will carry out the transaction at the time most appropriate to maximize the revenue," Giorgetti said during a parliamentary hearing.

  • Reuters

    Italy plans to sell up to 13% stake in Poste Italiane - ministry

    ROME (Reuters) -Italy plans to sell a stake of up to 13% in postal service group Poste Italiane, its industry ministry told parliament on Tuesday. The stake sale is part of government plans to raise roughly 20 billion euros ($21.67 billion) through asset sales between 2024 and 2026 to keep in check the euro zone's second-largest debt pile as a proportion of gross domestic product (GDP). In a written response to a parliamentary question, a copy of which was seen by Reuters, the industry ministry said both the Treasury and state lender Cassa Depositi e Prestiti (CDP) plan to cut their stakes in Poste Italiane without going below 51%.