ENI
MILAN, Nov 10 (Reuters) - Several investment banks have approached Italy's Treasury with offers to help it sell part of its stake in Eni ENI.MI, saying the group's current share buyback will allow Rome to reduce its holding without losing full control, sources said on Friday.
Italy aims to raise some 20 billion euros ($21.34 billion) from asset disposals through 2026 to slightly reduce the euro zone's second-largest debt pile as a proportion of gross domestic product.
Bankers have told the Treasury in recent weeks it should take advantage of Eni's stated plan to buy back and cancel 275 million of its shares to reduce its stake, three sources familiar with the matter said.
The option however is not top of the list for the Treasury, one of the sources added.
Italy currently owns around 32.4% stake in the energy group, chiefly through the 27.7% it holds indirectly via state lender Cassa Depositi e Prestiti (CDP) as the Treasury has a small direct 4.7% stake.