Telecom Italia (TI) has dismissed a claim in a UK newspaper report that it is in talks with Qatar-based funds about them buying a stake in its planned fixed-line business as “groundless”.
A spokesperson for the Italian incumbent did not comment…
Telecom Italia (TI) has dismissed a claim in a UK newspaper report that it is in talks with Qatar-based funds about them buying a stake in its planned fixed-line business as “groundless”.
A spokesperson for the Italian incumbent did not comment further on the Financial Times report, which cited two unnamed sources familiar with the situation as saying the telco has held talks with additional investors, including Qatar-based funds, about them acquiring a minority stake in the new business.
The spokesperson noted that the company’s denial of the talks refers specifically to the Qatari investors.
TI’s board of directors approved a plan in late May to spin off its fixed-line network into a private company, which analysts have valued at up to €14bn. The new company will own the assets and resources for managing and developing the passive copper and fibre networks and the active components of the fibre network.
TI is in advanced talks with state-controlled Cassa Depositi e Prestiti (CDP) about it potentially acquiring a stake in the new business.
TI CEO Franco Bernabe said previously that he expected international infrastructure funds would be interested in investing in the spin-off provided necessary changes are made to local telecoms regulations. According to Bernabe TI will retain control of the fixed-line network. He stressed that the plan will take a “long time” to implement, saying it requires major regulatory changes.
TI is also looking into the feasibility of a mobile tie-up with Hong Kong-based Hutchison Whampoa’s 3 Italia.
