The Italian government plans to start selling state-owned assets by the end of the year to reduce its debts, with a stake in oil and gas major Eni top of the list, two sources familiar with the matter told Reuters.
"We want to start soon. We want to sell some of the assets by the end of the year to show we are doing something," one source with direct knowledge of the matter said.
According to the company's website,Italy's Treasury holds a 4.3 percent stake in Eni, the biggest company listed on the Milan stock exchange. The stake is worth roughly 2.8 billion euros ($3.9 billion) at current market prices.
A sale would be an easy and quick way for the government to pocket money to cut Italy's public debt, which is hovering stubbornly around 133 percent of gross domestic product.
The government is working on a list of stakes it could dispose without losing direct or indirect control over the companies involved, the source said.
Source: Reuters
