GENOA, Italy May 8 Italy's Cassa Depositi e
Prestiti (CDP) is confident it will be able to sell by the
summer a minority stake in its energy grid unit CDP Reti, a move
that analysts say could fetch the state-backed lender up to 3
billion euros ($4.18 billion).
Cassa Depositi e Prestiti has put on the block up to 49
percent of CDP Reti, a vehicle that holds a core stake in gas
transport company Snam and that will soon own a large
portion of power grid operator Terna.
"We will likely make it by the summer... we are now seeking
binding offers from prospective buyers," said CDP Chairman
Franco Bassanini told reporters when asked about the prospective
Italy's cash-strapped government is trying to sell shares in
companies it owns, directly and indirectly, to raise
badly-needed funds to cut its mammoth 2 trillion euro debt.
($1 = 0.7183 Euros)
(Reporting by Elvira Pollina, writing by Francesca Landini)