Italy's Salvini against plans to sell stake in state railways

The government has set itself the goal of raising some 20 billion euros ($21.8 billion) between 2024 and 2026 through privatisations to help trim Italy's public debt burden, the second highest in the euro area. Last week the Italian Treasury sold a 25% stake in bailed-out bank Monte dei Paschi di Siena, and Economy Minister Giancarlo Giorgetti said in October state-owned railways and motorway networks could also be partly sold.

Italy's government should not sell stakes in state-controlled railways group Ferrovie dello Stato, as suggested by its economy minister to help pay down national debt, Infrastructure Minister Matteo Salvini said on Monday. The government has set itself the goal of raising some 20 billion euros ($21.8 billion) between 2024 and 2026 through privatisations to help trim Italy's public debt burden, the second highest in the euro area.

Last week the Italian Treasury sold a 25% stake in bailed-out bank Monte dei Paschi di Siena, and Economy Minister Giancarlo Giorgetti said in October state-owned railways and motorway networks could also be partly sold. But when asked by reporters at an event in Milan whether his ministry would sell a stake in Ferrovie dello Stato, Salvini replied with a straight "no", according to the ANSA news agency.

Salvini is also deputy prime minister and leader of the co-ruling League party. An option being studied by the Treasury is offering regulated returns to the railway group to woo private investors ahead of a listing, a source familiar told Reuters last month.

($1 = 0.9168 euros)