Italgas' parent to seek listing in 2016, puts F2I Rete Gas merger talks on hold
Italgas will seek a listing this year before it continues with talks on a planned merger with F2I Rete Gas, according to Italian newspaper La Repubblica Affari e FInanza.
The unsourced report said that Italgas' parent company Snam, an Italy-based natural gas supplier, has put the talks on hold pending the IPO plan. Snam wants to retain a 20% after the listing, it added.
Following a listing, negotiations between Snam and F2I Rete Gas could restart on a different basis, according to the report.
Italgas posted revenues of EUR 1.098bn and profits of EUR 469m in 2015, the report added.
La Repubblica (Affari e Finanza)