Italy Puts Sales of Eni, Enav Stakes on Hold -Reuters

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Italy has suspended a plan to sell stakes in air traffic controller Enav and energy company Eni to Cassa Depositi e Prestiti after European authorities questioned whether it should be shifting assets to a state-controlled entity, Reuters cited sources as saying.

--Last month, the Treasury started the process of offloading shares as part of a privatization plan, with hopes of raising up to 3 billion euros ($3.53 billion) by selling 50.37% of Enav and most of its 4.34% Eni stake, Reuters says. The objective of the program was to reduce public debt.

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--European statistics agency Eurostat has raised doubts about such a transaction because Cassa Depositi e Prestiti is publicly owned, and the Bank of Italy suggested that the regulator might not accept that the deal cleans up public finances, the sources said according to Reuters.

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(END) Dow Jones Newswires

December 11, 2017 09:44 ET (14:44 GMT)