Posted 1/29/2024, 3:30:59 PM
Italy Mulls Selling Stake in Postal Service to Chip Away at Massive Debt
- Italy considering selling stake in postal service Poste Italiane to raise funds and tackle huge public debt
- Poste Italiane seen as a "crown jewel" asset by PM Giorgia Meloni's administration
- Government aims to raise 20 billion euros through privatizations by 2026, with focus on Poste Italiane
- Analysts say sale will do little to reduce Italy's 2.8 trillion euro debt, the 2nd highest debt-to-GDP ratio in eurozone
- Opposition parties criticize potential sale of Poste Italiane stake as "selling the homeland"