Eni Renews Effort to Shed Saipem Stake

Italian oil and gas group Eni  is again looking to cut its stake in Saipem after putting on hold a plan to sell down its oil services unit due to a slide on oil prices, Eni Chairman Emma Marcegaglia said in a newspaper interview.

"We are once again reviewing the plan," she was quoted as saying in financial daily Il Sole 24 Ore on Thursday.

Eni could also consider selling its retail gas business.

"We could decide to keep it, separate it from the rest of the company and extract value from it, or aim for a market operation. We are yet to take a decision," Marcegaglia said.
 
Reporting by Valentina Za