Italy sets aside $1.78bln to buy into capital hikes of state-owned companies

To buy into possible capital increases at state-controlled companies

  
A man looks at financial information on a screen outside a bank in downtown Milan March 18, 2013.

A man looks at financial information on a screen outside a bank in downtown Milan March 18, 2013.

REUTERS/Alessandro Garofalo

MILAN- The Italian government has set aside up to 1.5 billion euros ($1.78 billion) to buy into possible capital increases at state-controlled companies, according to a draft of a new stimulus package to help recovery after the coronavirus crisis.

The draft decree, seen by Reuters authorises the government to spend up to 1.5 billion euros in the current year to participate in the capital increases.

($1 = 0.8424 euros)

(Reporting by Giuseppe Fonte, writing by Maria Pia Quaglia, editing by James Mackenzie) ((mariapia.quaglia@tr.com; +39 02 66129638;))

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