Italy to raise up to 12 bln euros from privatisations- PM Letta

Reuters

ROME, Nov 21 (Reuters) - Italy will sell stakes in publiccompanies including oil and gas company Eni to raise upto 12 billion euros ($16.16 billion) and help cut public debt,Prime Minister Enrico Letta said on Thursday.

Company holdings to be sold include STMicroelectronics, shipbuilder Fincantieri, air traffic controller Enav,and 3 percent of Eni, though Italy will keep its overall stakein the energy company above 30 percent, Letta said.

Letta told reporters after a cabinet meeting that half ofthe amount raised from the sales would be used to reduce Italy'sdebt, and added that he hoped this would help win more leewayfrom the European Commission on investments.

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