Home/FX/Newsfeed

Italy Plans To Reduce Public Debt By Privatization

Share Print 0

Italian state-owned shipbuilder Fincantieri will apply to list in Milan as early as Tuesday, firing the starting gun for what officials predict will be Italy’s largest privatisation programme since the 1990s, with a plan to raise 12 billion euros ($16.6 billion).

Matteo Renzi, Italy’s prime minister, has stuck to privatization targets unveiled by his predecessor Enrico Letta in January, unveiling a program to reduce Italy’s public debt of more than 2 trillion euros for the first time in six years.

Fincantieri’s shareholder, a state financing vehicle owned by the Italian Treasury, will file to list up to 49 percent of the shipyard group. Analysts estimate Fincantieri could be worth more than 1.5 billion euros.

The privatization will also include a 600 million euros capital increase after it was approved by Fincantieri’s shareholders on Monday.

via CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

,
Back to Top