Italy’s Cariverona to consider buying Poste shares in Treasury’s planned stake sale

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MILAN (Reuters) -The Italian banking foundation Cariverona will consider buying Poste Italiane shares in the planned sale of a stake by the Italian Treasury, its chairman said on Monday.

The Italian Treasury plans to sell a stake of around 14% of the Italian postal service under a public offering, initially expected to be launched later this month.

However, the approval of the share offering document by market watchdog CONSOB had been temporarily suspended, pending decisions regarding the timing and the conditions of the sale by the Economy Ministry.

Last week several Italian newspapers reported that Italian banking foundations were interested in the stake sale of the postal service group.

The head of Cariverona, Bruno Giordano, told a press conference that the transaction will be looked at as part of a strategy of diversification of investments, according to a person who attended the event.

(Reporting by Gianluca Semeraro; editing by Keith Weir)