Italian Privatization

1
Italian Privatization

• From Telecom

To Tomatoes
2
Italys Privatization Effort Largest in Europe
(1997)

• Company
• Telecom Italia
• ENI (oil)
• INA (insurance)
• IMI
• Comit
• Ilva
• Credito Italiano (bank)
• Sme
• Italtel (telecom)
• AS Terni (shipping)
• Nuova Tirrena (insurance)
• Cirio, Bertolli, De Rica
• Other

• Privatization Proceeds
• 25.0
• 15.2
• 9.5
• 4.1
• 2.9
• 1.9
• 1.8
• 1.3
• 1.0
• 0.6
• 0.6
• 0.3
• 1.7
• 66.8 US 39 bill.

Lire, thousands of billions
3
National Enterprises Still To Be Privatized (1997)
Public Ownership 100 100 100 100 100 87 61
60 50 15
Company/Industry ENEL/electricity
RAI/television Poste Italiane/postal delivery
Fincantieri/terminals/containers
Finmare/shipping Autostrade/highways
Seat/automobiles Finmeccanica/defense/aerospace/t
ransport Alitalia/airlines ENI/oil/gas/energy
.
4
In Italy, Municipalities Provide Many
Infrastructure Services
of Population Served by Municipally-Owned
Companies 100
100 95 85 90 75
Type of Service Heating Electricity
distribution Water distribution Gas
distribution Public transportation Sanitation
But, in some areas, they also provide other non
infrastructure services, such as
Wine
Milk
Pharmacies
5
Some Municipal/Regional Enterprises to Be
Privatized (1997)

• Rome airports, milk cooperatives
• Milan municipal electricity distribution
  utility, 87 municipal pharmacies, milk
  cooperatives
• Venice ship/container terminal
• Palermo Corvo wine