Poste Italiane picks White & Case as advisers on 14% stake sale

Italy’s Treasury said on Friday it had picked UBS Europe SE and White & Case Europe LLP as financial and legal advisers for the stake sale of around 14% in postal service Poste Italiane.

Poste Italiane is currently valued at around 16.2 billion at current market prices and the proposed share sale is expected to reduce Italy’s significant public debt by roughly 2.3 billion euros.