The Telecom Italia board reportedly intends to continue to explore the possibility of a tie-up with Hong Kong’s Hutchison Whampoa.
Meanwhile, Telefonica said on a conference call with analysts today that no specific proposal regarding a tie-up with…
The Telecom Italia board reportedly intends to continue to explore the possibility of a tie-up with Hong Kong’s Hutchison Whampoa.
Meanwhile, Telefonica said on a conference call with analysts today that no specific proposal regarding a tie-up with Hutchison had been made yet.
According to a Reuters report citing a Telecom Italia board member and another unidentified source, the board aims to take a final decision on whether or not to pursue a deal at a meeting in a month’s time.
The board held a meeting today, after which member Tarak Ben Ammar was quoted as saying that no mandate to negotiate a deal with Hutchison, owner of mobile operator 3 Italia, was taken. Contravening recent rumours, he also reportedly said that none of TI’s core shareholders, including Telefonica, oppose a deal with Hutchison in principle.
Ben Ammar was also quoted as saying that no decision has been taken on a plan to spin off the company’s fixed-line network.
In its analysts call Telefonica said that it is happy with its place in Telco, TI’s largest shareholder, and is supportive of actions that improve the Italian incumbent’s value.
An official release from Telecom Italia is expected later today, according to a company spokesperson speaking shortly before market close today.
