- Italy: the Italian government is to sell a stake of at least 10% in ENEL (electricity) in the first half of 2001, said Treasury Minister Vincenzo Visco who did not, on that occasion, stipulate whether the Italian State's stake would fall below the 51% mark, while stressing that the government was "open to that idea". The Treasury Ministry currently holds a 68.36% stake in ENEL, following an initial partial privatization and a floatation on the stock market in the autumn of 1999. In addition, the Italian Government has announced, in a general manner, that it intends selling certain shares in a number of large companies. The sale of these shares could amount to $10.5 bn. For example, the government is considering selling: i) 5% of the oil and gas company ENI in which it has a 35% stake for $2.5 bn; ii) its 2.64% stake in TELECOM ITALIA for $2.5 bn; iii) several more minor stakes in a series of smaller companies for $1 bn (1.3% in BNL (banking), 1.1% in INA (insurance) and 0.3% in SAN PAOLO IMI (banking)).