Privatizations, possible changes in the Post Office and Railways: what would change

During yesterday’s press conference, Prime Minister Meloni once again recalled the importance of reducing the presence of the public where it is not necessary and asserting it where it is needed. The reference, later made explicit, is to the Post Office and Railways, mostly controlled by the State but with a probable future entry of private investors. This would bring an estimated figure of between 4.7 and 6.7 billion euros into state coffers

“My idea is to reduce the presence of the state where it is not necessary and reaffirm it where it is.” Among the many phrases uttered by Prime Minister Giorgia Meloni yesterday at the press conference, this remains one of the most evocative, given that it puts the issue of privatizations back at the centre. In the Nadef of last September it was estimated that almost 20 billion would be recovered in three years from the sale of some shares of the most important public companies. “The government’s approach is light years away from the past, when millionaire gifts were given to lucky, well-connected entrepreneurs,” declared the Prime Minister.

The entry of private individuals into the Post Office and Railways

At the center of the government’s attention are two entities in particular, the Post Office and the State Railways. In the first case, the Ministry of Economy holds the majority of shares, 65%, both directly and indirectly, through Cassa Depositi e Prestiti. In the second case, however, the State holds 100% of the shares of Trenitalia, through the Italian State Railways, which is also a totally public entity. “The reduction of state shareholdings does not reduce public control, as in the case of the Post Office, while I think there is the possibility of letting private individuals also enter companies where there is total public control, as in Railways,” he declared Meloni at the press conference. According to some estimates, published by The sun 24 hoursif a share of up to 49% of Fs and less than 30% of Poste were put on the market, the revenue range for the State could be between 4.7 and 6.7 billion.

The case of MPS

The timing of this transition may not be immediate, but the will certainly seems to be there. “The passes could be quite long and that’s not just up to me. Meanwhile we have given a good signal for MPS, some resources have returned. The State must control what is strategic but this does not mean not opening up to the market”, declared the Prime Minister in a press conference. The mention of the Sienese institute is not accidental: in November, in fact, the transfer of shares of Montepaschi Siena held by the public took place, which fell from 64.23% to approximately 39.23%. Once repudiated by the market, this time the shares literally sold like hot cakes.