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ROME, Nov 21 (Reuters) - Italy is considering candidates to take the helm of state lender Cassa Depositi e Prestiti (CDP), three sources close to the matter told Reuters, as part of a wider shake-up of state-controlled companies. State-backed investor CDP, founded 173 years ago, plays a key role in keeping strategic assets in national hands. Asked to comment on a change of CEO at CDP, Meloni's office said any rumours of a replacement for Scannapieco were unfounded. Rome is expected to decide on the top management of CDP in March at the latest, immediately after the approval of this year's CDP financial accounts, the sources said. The state lender invests savings made by Italians through the national post office network Poste Italiane.
Persons: Dario Scannapieco, Fincantieri, Giorgia, Scannapieco, Antonino Turicchi, Stefano Donnarumma, Mario Draghi, Elvira Pollina, Susan Fenton Organizations: Eni, ITA Airways, European Investment Bank, Telecom Italia's, Thomson Locations: Italy, State, Rome, EU, Milan
The audit court on Thursday approved the decree needed to set up the unit, the sources said, despite making critical observations about some aspects of it. Giorgetti has approached former banker Marcello Sala, currently director for investor relations at the Treasury, to lead the department, they added. Under the reorganisation plan, the influential Treasury department within the ministry led by veteran economist Riccardo Barbieri would be split into two units. The Treasury will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. ($1 = 0.9323 euros)Additional reporting by Valentina Za in Milan Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.
Persons: Sala, Giancarlo Giorgetti, Giorgetti, Marcello Sala, Antonino Turicchi, Dario Scannapieco, Riccardo Barbieri, Valentina Za, Christina Fincher Organizations: Treasury, Economy, ITA Airways, Department, Thomson Locations: ROME, Italy, Siena, Milan
Italy's Treasury sets up new department for state-run companies
  + stars: | 2023-03-16 | by ( ) www.reuters.com   time to read: +2 min
ROME, March 16 (Reuters) - Italy approved on Thursday a decree to create a new department at the economy ministry in charge of managing state-controlling companies such as energy groups Enel (ENEI.MI) and Eni . Economy Minister Giancarlo Giorgetti announced the scheme in January as part of efforts to tighten the government's grip on key companies dealing with some of the most delicate corporate issues facing Italy. Under the scheme, the influential Treasury department within the ministry, led by veteran economist Riccardo Barbieri, will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. The newly created "economic department" will have its own director general and will handle the decision-making process regarding state-controlled firms, public assets and public guarantees on banking loans. Rome is expected to decide on the chairperson and CEO positions of these firms by the end of next week, government sources said.
[1/5] Italian Prime Minister Giorgia Meloni speaks during a news conference to present her government's first budget in Rome, Italy, November 22, 2022. Meloni, a fiery conviction politician, has often spoken out against Italy's reliance on technocrats to solve its economic problems and lambasted alleged interference from "high international finance" and "Brussels bureaucrats". During the election campaign Meloni called in vain for her predecessor Mario Draghi to freeze the sale of a majority stake in ITA. PUSHBACKDeputy Economy and Finance Minister Maurizio Leo, an adviser to Meloni, had proposed splitting his ministry by hiving off the finance department responsible for tax matters. The head of the finance department, Fabrizia Lapecorella, has asked to move to another ministry, two sources said.
Italy to press ahead with plans to sell ITA despite MSC snub
  + stars: | 2022-11-22 | by ( ) www.reuters.com   time to read: +1 min
ROME, Nov 22 (Reuters) - Italy's government will press ahead with plans to sell a majority stake in airline ITA Airways, the successor to Alitalia, Economy Minister Giancarlo Giorgetti said on Tuesday, after shipping group MSC dropped its interest. "We are open to anybody who wants to participate in the privatisation," Giorgetti told a news conference, adding ITA Airways's data room is "always open." Shipping group MSC, which had partnered with German airline Lufthansa (LHAG.DE) earlier this year to bid for ITA, said on Monday it was no longer interested in the transaction. On the other hand, a Lufthansa spokesman said last week that the German carrier was still interested in buying into ITA. The Treasury plans to privatise ITA through a direct sale while retaining a minority, non-controlling stake in the initial stage.
Italy names former Treasury official to head ITA Airways
  + stars: | 2022-11-16 | by ( ) www.reuters.com   time to read: +2 min
REUTERS/Remo CasilliROME, Nov 16 (Reuters) - The Italian economy ministry on Wednesday said it would appoint former Treasury official Antonino Turicchi as chairman of state-owned carrier ITA Airways, the successor to Alitalia. At ITA Airways, he will take the place of Alfredo Altavilla, who resigned earlier this month after a clash with several board members over strategy to complete the privatisation of the airline. The exclusivity period ended last month but talks over a potential sale agreement are continuing. Confirming a Reuters report on Tuesday, the Treasury said in a statement it would appoint Turicchi at an ITA Airways shareholders' meeting on Wednesday. Turicchi had recently been indicated by political sources as a potential candidate to replace Alessandro Rivera as director-general of the Treasury.
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