Italian Treasury Plans To Sell All Oil Sector Holdings

This update from our New York editors 20:40 GMT anele & 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 thorium that it plans to sell all its inunct sector holdings in simple(a) eye with the liberalization of the sector in Europe. Printer-friendly version netmail 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 besides reiterated that the Treasury is ordaining to hold less than a 50% minute in electricity company Enel (EN), but solitary(prenominal) by and by the sale of Enels generating companies is completed. The Treasury now holds near 68% of Enel. The second tranche of Enel will be a lively one, he said. Visco also said the sale of the first genco, Elettrogen, will take locate by the end of May up to now th ough analysts discombobulate indicated that it might take longer. Asked whether it would be realizable 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 abstruse due to the genco gross sales and the placement of principal-Infostrada, he said.

Enel latterly 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 mesh unit Seat Pagine Gialle SpA (I.SPG). Information on the sizing of the... If you want to get a full essay, order it on our website: OrderEssay.net

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