Poste italiane, which runs Italy's postal service, started out this week on its privatisation road show. It is selling more than a 40% stake in itself. The listing, which is expected to raise €7.8 billion-9.8 billion ($8.9 billion-11.2 billion), puts Italy itself in the shop window. This is the country's biggest privatisation in 16 years and the linchpin of a sell-off programme that the government hopes will signal a fresh direction to foreign investors. It also offers the postal sector another chance, following listings by other European operators and in advance of one by Japan Post, to persuade investors that firms whose traditional business is in deep trouble have a future.
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