Italy plans bill next week aimed at boosting Milan bourse
Adds details and background
ROME, March 23 (Reuters) -A package of measures to address the issues holding back Italy's capital markets and reinforce the role of the 200-year-old Borsa Italiana could be presented next week, Economy Minister Giancarlo Giorgetti told parliament on Thursday.
As part of the package, the Italian Treasury plans to enhance voting rights to persuade entrepreneurs to float their businesses in Milan without worrying about losing control to other investors, sources briefed on the matter told Reuters.
"I hope to present it next week," Giorgetti said of the scheme, which would allow companies planning to list to issue special shares that give existing investors a right to cast up to 10 votes at shareholder meetings for each share owned, surpassing the current limit of three.
The next cabinet meeting is scheduled for March 28, government officials have said.
Rome studied solutions to extend differentiated voting rights in the Treasury's Green Paper on capital markets published a year ago, but the reform process was frozen due to an election in September that saw nationalist Giorgia Meloni become prime minister.
The package also includes measures to simplify the listing process and make it less costly and cumbersome to provide adequate risk disclosure for investors.
Reporting by Giuseppe Fonte, editing by Gavin Jones and Alexander Smith
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