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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)
Equity refers to the ownership value in an asset or a company, typically represented by shares. It signifies the amount of ownership a shareholder has in a corporation.
An investment is the allocation of resources, usually money, in order to generate income or profit. It can take various forms, including stocks, bonds, real estate, and mutual funds.
A public offering is the process by which a company offers its shares to the public for the first time, allowing investors to buy shares in the company. This is often done through an Initial Public Offering (IPO).
A financial community refers to a network of individuals and organizations involved in the finance sector, including banks, investors, and financial institutions, who interact and collaborate on financial matters.
Capital markets are financial markets where long-term debt or equity-backed securities are bought and sold. They facilitate the raising of capital by connecting investors with entities needing funds.
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