Cabinet approves part - privatisation of FS Italiane

TIN news:   The Council of Ministers gave preliminary approval to initial proposals for the sale of a 40% stake in national railway group Ferrovie dello Stato Italiane at its meeting on November 23. The part-privatisation is planned for 2016, subject to suitable market conditions.
A prime ministerial decree which has been prepared by the Ministry of Economy & Finance in consultation with the Ministry of Economic Development will now be sent to parliamentary committees for further consideration. Details of the privatisation process and the future structure of the FS Group are still to be decided, but transport minister Graziano Delrio has indicated that he wants to ensure that the infrastructure remains publically-owned.
It is envisaged that up to 40% of the shares in FS Group would be sold, through a public offering to retail as well as institutional investors with incentives for employees to acquire shares.
The Council of Minsters believes that partial privatisation would provide an opportunity for structural reform of the transport market to provide better and more efficient services. This would streamline FS and help support its expansion outside Italy.