an organization dealing with postal services in italy was founded in 1862. this was a consequence of the postal reform. in 1996, poste italiane became a state-owned business ("società per azioni"). in february 1998, the ministry of the treasury appointed corrado passera, as the ceo of the newly formed poste italiane. in 2011, poste italiane acquired unicredit mediocredito centrale. in 2014, the italian government approved the sale of 40% of the company's shares. in 2016, another 35% of shares were transferred from the ministry to cassa depositi e prestiti.