Italy's Letta Says Poste Sale Will Help Cut Public Debt

ROME—Italian Prime Minister Enrico Letta tried to speed up his government’s executive action, saying his cabinet on Friday agreed to sell a minority stake in the postal service and also offered what he described as a last-chance opportunity to repatriate undeclared assets held abroad.
Mr. Letta said the plan, which should gain him more flexibility from Brussels, was to sell a non-controlling stake of Poste Italiane, which owns all of BancoPosta, a profitable lender. The government last year said it hoped to raise EUR12…

Read more: Italy’s Letta Says Poste Sale Will Help Cut Public Debt