Italian Treasury Plans To Sell All Oil Sector Holdings

This update from our New York editors 20:40 GMT inunct & Gas News: Top Story Italian treasury Plans to Sell All Oil Sector Holdings By Luca Di Leo ROME, Apr 19 (Dow Jones) - The Italian exchequer express atomic number 90 that it plans to sell all its inunct sector holdings in mere(a) eye with the liberalization of the sector in Europe. Printer-friendly version email to colleagues The exchequer didnt specify a timeline or give a attend of all its oil sector holdings. The Treasury owns 35% of oil company Eni resort (E). Treasury minister Vincenzo Visco alike reiterated that the Treasury is leave aloneing to hold less than a 50% minute in electricity company Enel (EN), but exactly by and by the sale of Enels generating companies is completed. The Treasury now holds to the highest degree 68% of Enel. The second tranche of Enel will be a full-bodied one, he said. Visco also said the sale of the first genco, Elettrogen, will take locate by the end of May fifty-fifty though analysts discombobulate indicated that it might take longer. Asked whether it would be accomplishable to sell a second Enel tranche before the May 13 general elections, Visco said that it was unlikely. The placing of Enel is more complex because of the higher risks complex due to the genco gross sales and the placement of wrap-Infostrada, he said. Enel recently completed the purchase of Infostrada, an Italian wireline telecom operator, from Vodafone (VOD) and plans to merge it with Wind, the telecom operator Enel already owns with France telecommunication (FTE). Enel plans to list the new Wind entity by year end. The Treasury also reiterated its plans to sell its stay 3.95% stake in telecom Italia SpA (TI) together with a recently acquired stake in TI yellow pages and lucre unit Seat Pagine Gialle SpA (I.SPG). Information on the coat of the... If you want to get a full essay, order it on our website: BestEssayChe! ap.com

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