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IPO in the air for Wind

Franco-Italian telco Wind will make an initial public offering after the Italian government reduces its stake in major shareholder Enel.
Written by Suzanna Kerridge, Contributor

Franco-Italian telco Wind will make an initial public offering after the Italian government reduces its stake in major shareholder Enel.

Enel is 68.3 per cent owned by the Italian government and currently owns 56 per cent of Wind. Under EU law, a company may only IPO if government involvement amounts to less than 50 per cent. Italian treasury director Mario Praghi said the government will lower its stake in Enel to below the legal requirement, possibly to as low as 18 per cent. Treasury Minister Vincenzo Visio claimed the government must reasonably keep its share above ten per cent.
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