According to Meloni, the sale of Italy’s’s MPS may help establish several large businesses.

MILAN ( Reuters) Prime Minister Giorgia Meloni was quoted as saying on Saturday that the privatization of Italian lender Monte dei Paschi di Siena should encourage the development of several significant banking groups in the nation.

Following a 2017 bailout, the government now owns 64 % of Monte dei Paschi( MPS ), which is thought to be crucial to the consolidation of Italy’s’s mid-sized lenders.

The public is anticipated to look for another bank interested in purchasing its stake in the Italian merchant after failing to secure a sale of MPS to UniCredit in 2021.

In an interview that was released on Saturday, Meloni was quoted as saying,” We want to manage the state’s’s exit from the MPS capital in an orderly manner to create the conditions for more large banking groups in Italy.”

Luigi Lovaglio’s’s appointment as MPS chief executive has just been renewed by the public for another period.

” We may avoid making the same mistakes we did in the past.” We confirmed Lovaglio was in charge of Monte dei Paschi, and the CEO was successful in directing the most recent funds increase. Meloni then stated that it was now necessary to work to reintroduce Monte to the open market.

The government is also attempting to sell ITA Airways, Alitalia’s’s leader, to Lufthansa in Germany with a deal anticipated in the near future.

According to Meloni,” Lufthansa may need to make sure that Italy is at the center of its interests and found an efficient, growth-oriented business system that serves the trade and commerce routes.”

She mentioned that Rome was keeping an eye on the company’s’s attempts to sell its telephone network and bomber cable unit Sparkle in relation to the former phone monopoly TIM.

According to Meloni, the public won’t get involved and is on the lookout to make sure there are no circumstances that endanger the interests of the country.

For the assets it received from KKR and state lender Cassa Depositi e Prestiti( CDP ), which is collaborating with Macquarie, TIM is currently reviewing new non-binding bids.

( Editing by Helen Popper, reporting by Francesca Landini )

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