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Hutchison Whampoa seeks controlling stake in Telecom Italia

2013-04-11 17:29:00| Telecompaper Headlines

(Telecompaper) Telecom Italia confirmed that Hutchison Whampoa is interested in becoming its controlling shareholder. In a statement after its latest board meeting, the Italian operator Hutchison has made the sale of 3 conditional on it also becoming Telecom's largest shareholder, the company said. Telecom Italia has named a committee led by executive chairman Franco Bernabe to continue evaluating the proposed transaction. It also includes the directors Luigi Zingales, Gabriele Galateri, Elio Catania and Julio Linares. Also at the board meeting the operator decided to go ahead with plans for spinning off its fixed network. The board mandated management to define the operational process and feasibility of the structural separation of the access network.

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Italy's Telco denies contacts with Hutchison Whampoa, Telecom Italia

2013-04-10 02:00:00| Total Telecom industry news

Telecom Italia's controlling shareholder issues filing to stock exchange.

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Hutchison Whampoa eyes 29.9% of Telecom Italia - report

2013-04-09 11:35:00| Telecompaper Headlines

(Telecompaper) Hutchison Whampoa wants to acquire a 29.9 percent stake in Telecom Italia and said it will pay EUR 1.20 cash for the shares, Italian daily Il Messaggero reported. This is twice Telecom's Italia's current share price but equal to the valuation of the shares by the company's largest shareholder, the Telco consortium. Hutchison Whampoa's adviser Goldman Sachs sent a Memorandum of Understanding to Telecom Italia head Franco Bernabe on the proposal, the paper's sources said. This would make Hutchison the biggest shareholder in the Italian operator and forms part of talks to merge its unit 3 Italia with Telecom.

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Telecom Italia confirms talks with Hutchison on 3 merger

2013-04-08 08:44:00| Telecompaper Headlines

(Telecompaper) Telecom Italia confirmed it has held preliminary talks with Hutchison Whampoa over a possible merger with 3 Italia. Telecom Italia said the talks were still at an early stage and it could not comment further. The topic will be discussed by the company's board of directors at a meeting scheduled 11 April, it said. The statement follows a request from the securities regulator Consob to clarify earlier media reports that Telecom and Hutchison were considering merging their mobile activities in Italy. Telecom Italia's TIM is already the biggest mobile operator in Italy with almost 35 percent of subscribers at the end of 2012, while 3 Italia had just over 10 percent of the market.

Tags: italia telecom talks merger