Posted By Global Banking and Finance Review
Posted on December 13, 2024
ROME (Reuters) - Italy's F2i is ready to raise funds to invest in the high-speed network company the state-controlled railway group Ferrovie dello Stato (FS) will soon set up, the chief executive of the infrastructure fund told Reuters on Friday.
On Thursday, FS said it would spin off its high-speed network into a dedicated company, paving the way for a stake sale to outside investors.
"F2i is always ready to raise financial resources to develop strategic infrastructure networks for the country. The rail network is one of them," Renato Ravanelli said.
The fund also has a stake in Fibercop, the wholesale-only telecoms network operator controlled by U.S.-based KKR.
FS chief executive Stefano Donnarumma said he would discuss with the government options to attract investors to the planned spin-off company, over which the group would retain full control.
The high-speed business is worth 8 billion euros ($8.40 billion), the company said.
FS' plan is consistent with Prime Minister Giorgia Meloni's efforts to sell state assets to cut Italy's public debt, which the Treasury expects to peak at almost 138% of gross domestic product in 2026.
($1 = 0.9553 euros)
(Reporting by Elvira Pollina and Giuseppe Fonte, writing by Giulia Segreti, editing by Alvise Armellini, Kirsten Donovan)