Italy post office says needs more funds to keep up full service

(Reuters) – Italy’s post office operator Poste Italiane, which the government has slated for privatisation, said on Tuesday it would need more funding to be able to keep up a comprehensive mail delivery service.

A 40 percent stake in the post office was due to be listed this year as part of a government drive to put stakes in several companies on sale and reduce Italy’s sky-high public debt, but the plan has run into delays, casting doubt on whether the government can meet its revenue targets.

“A comprehensive postal service is not sustainable any more, and a careful review needs to be done of its structure and how to finance it,” Poste Italiane said in a statement.

Read more: Italy post office says needs more funds to keep up full service | Reuters.