The option however is not top of the list for the Treasury, one of the sources added. Announced in May, Eni's share buyback is underway and is expected to increase the government's total stake to just above 34% of voting shares. Once completed, the Treasury could potentially sell enough shares for Italy to remain slightly over 30% of Eni's capital when factoring in CDP's stake, another source said. At current market prices, 4% of Eni is worth around 2 billion euros ($2.14 billion). Eni's share buyback is expected to end before April 2024 after the group said last month it would speed up the programme launched to reward investors.

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Persons: Chris Helgren, Italy's, Eni's, Lucia Albano, Giancarlo Giorgetti, Jan Harvey Organizations: Eni, REUTERS, MILAN, Italy's Treasury, Bankers, Treasury, European Union, Economy, Ferrovie dello Stato, Thomson Locations: Vancouver , British Columbia, Canada, Rome, Italy, dei