Bank of Italy valued at 1bln euro

The total value of the Bank of Italy's shares is about 1 bln euro, said economy undersecretary Maria Teresa Armosino, but she said the shares are not "marketable".

In comments cited by daily Il Sole 24 Ore, Armosino added that under the reform currently being discussed in parliament, the government should purchase about half of the central bank's capital.

Bank of Italy's main shareholders are private banks. Banca Intesa SpA, holds a 27.20 pct stake, Sanpaolo IMI SpA 17.23 pct, Capitalia SpA 11.

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