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Eni must sell off entire stake in Snam

By  |  May 28, 2012

The Italian government has approved a decree that forces Eni to sell its entire 52 percent stake in Snam, a gas-network operator. The order requires Eni to sell 25.1 percent of its stake to Cassa Depositi e Prestiti SpA; the rest is to be sold to investors. The rationale for the order is that the sale will open up Italy’s gas-pipeline network, increasing competition and cutting prices. The sale is to be completed within 18 months.

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