Telecom Italia shareholders have moved to deny new reports that the operator is considering moves to open the door for a merger with Telefonica.
The Italian incumbent’s core shareholders have issued a statement quashing the speculation that they would…
Telecom Italia shareholders have moved to deny new reports that the operator is considering moves to open the door for a merger with Telefonica.
The Italian incumbent’s core shareholders have issued a statement quashing the speculation that they would create a new holding company to enable a merger with its Spanish counterpart.
Italian newspaper La Repubblica had reported that Mediobanca was leading the plans to instigate a new holding company for the 22.5% stake currently held by Telco. In a joint statement Mediobanca, Intesa Sanpaolo and Generali SpA said that the news was ‘entirely without foundation’.
Along with Telefonica, the three companies currently house their combined Telecom Italia stake in Telco.
