Today, the city of Turin, owns 50% of the FINANCIAL DEVELOPMENT UTILITIES Srl, while the other 50% is owned by the municipality of Genova. This has as its sole asset financial management Iren participation in the two municipalities, a sort of corporate version of the syndicate. Participation, which is headed by the financial amounts to about 36% (exactly 35.96%), making it the majority shareholder on. This package is union with those of members Emilia (the former controlling shareholders of Enia). Making the city of Turin has about 18%, albeit with financial capital Iren, society publicly traded. Today, December 30, 2010 17:00 about the listing of the action is: 1.254. The shares held by the financial contribution is equal to 424,999,233 multiplied by 1.254 which gives a value of 532,949,038.182. In short about 530 million € of which 265 are owned by Turin.
Now one wonders what benefit the citizens of Turin comes from this participation? As a public utility pursues the municipality of Turin possessing these actions? For if the electricity or gas or district heating cost less or are simply sold to the market price? So where is the benefit of the citizens of Turin? I do not think that we common citizens delegate to the investment of our savings. Our money should not be used for schools and roads? But not all. The municipality of Turin is one of the most indebted of Italy with a debt of around 5.5 billion and 18% of annual revenues are used to pay mortgages and interest. Now one wonders why not sell the stake in Iren and pay some debt? Pay any such supplier or terminate any bank debt.
Next year there will be local elections in Turin. It 's too ask the next mayor to sell the stake in Iren?
Vito Foschi
Tea Party
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