Italy: According to a report by the Italian Treasury on privatisation, Italy has taken over from the United Kingdom as number one player in terms of privatisation operations with a total revenue of EUR 88.6 bn since 1994 (including EUR 16.6 bn in 2003). Among the operations planned for 2004 is the sale at the end of October of a third of ENEL's capital (between 10% and 20%) for an estimated value of between EUR 4 and 8 bn. ENEL is currently controlled by the treasury, which has a 50.2% stake.