THE ITALIAN ministry of communications announced this week that the government had no interest in maintaining its ownership of a 4.5% stake in Telecom Italia, the national operator privatised in 1997. The sale would raise between Lit5,000bn and Lit6,000bn (Eu2.58bn to Eu3.10bn) for the Treasury. Although the indication of this plan -- made by Salvatore Cardinale, the communications minister -- may have been premature, it is still likely that the sale will take place before the end of April.
January 15, 1999
