Poste Italiane IPO-ready, valued at 14-15 billion euros
By Deepa Babington
ROME (Reuters) - Italy's postal service Poste Italiane has been valued by investment banks at between 14 billion to 15 billion euros ($20.62-$22.09 billion) and is ready for a public offering as soon as the government decides to launch it, its CEO said.
State-owned Poste Italiane, one of Italy's largest non-publicly traded companies, has boosted profitability and revenue in recent years by expanding outside the mail business into more lucrative segments such as financial services.
"We are behaving as a company driven by typical market rules," CEO Massimo Sarmi said in an interview.
"At the moment, we are working as if at any moment we would be asked to become public."
Poste Italiane has been considered among the assets Italy's centre-left government could sell to lower public debt.
Sarmi has previously said he prefers a two-phase listing similar to that of Germany's Deutsche Post, where the whole group went public first before its banking unit was listed.
An IPO of Poste Italiane could be launched at anytime, but there was little to suggest it was imminent, he said.
"Up to now, I do not see at the horizon line anything special that is moving," he said. Continued...
Ads by Career Builder
Finance and Accounting Executives
Details: Finance and Accounting Executives Would you like the opportunity to earn...
Director of Finance - Product Control - Singapore (Banking)
Details: ...the industry has brought about an international search for finance professional looking to relocate to Singapore. Job description...
Finance Manager
Details: The Finance Manager will be responsible...decision support to the brand finance teams.The manager will also...
Finance Leader, Regional Finance
Details: MasterCard Worldwide Major Accountabilities: The Leader, Regional Finance has the following responsibilities relating to the income statement...






