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Italian prosecutors investigating TI-Telefonica deal

2013-12-20 22:21:00| Telecompaper Headlines

(Telecompaper) Prosecutors in Rome are currently investigating the restructuring of Telco, the holding company that controls Telecom Italia via a 22.4 percent stake, the chief prosecutor Giuseppe Pignatone confirmed in a statement. According to Pignatone, the Rome prosecutors' office "has closely followed the developments of the Telecom Italia affair since the first days of October this year" in cooperation with the regulator Consob. The prosecutors questioned former Telecom Italia chairman Franco Bernabe as part of the investigation into the 24 September agreement between Telefonica and the other shareholders in Telco, Italian investors Assicurazioni Generali, Intesa Sanpaolo and Mediobanca. The prosecutor confirmed that no individuals were under formal investigation at this stage.

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