Madrid, Sept 14 - Spanish food company SOS Cuetara does not plan to list its Italian business because of market volatility, the world's largest olive oil bottler said on Monday.
"With regard to media reports about plans to seek a stock market listing in Italy for our businesses there, we confirm that such an operation is currently not in the company's plans given the market situation," SOS Cuetara said in a statement.
"Today it's not the moment for an IPO," Fabio Maccari, head of SOS' Italian operations and its director general for Southern Europe, told journalists on Friday.
He said the company had discussed the possibility of selling a minority stake on two conditions: that the business reach a turnover of 1 billion euros ($1.45 billion), up from the current 800 million, and appropriate market conditions.
SOS embarked on a financial restructuring, including a 200-million-euro cash call, after its former chairman and deputy chairman were fired on April 30
At 0754 GMT, SOS was down 1.44 percent at 3.42 euros.