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Sawiris, AT&T eye Telecom Italia - report

2013-09-05 15:52:00| Telecompaper Headlines

(Telecompaper) AT&T and Egyptian investor Naguib Sawiris have made contact with the core Telecom Italia investors who want to sell their shares in the Italian group, a source close to the situation told Reuters. The two have not expressed a formal interest in buying a stake in Telecom Italia, the report said. Telecom Italia is 22.4 percent-owned by the Telco consortium, which is in turn controlled by Italian banks Mediobanca and Intesa Sanpaolo, insurer Generali and Telefonica. The financial companies have made clear they are looking to sell their stakes, and the shareholders pact gives them their first option to do so this month. The option can be exercised until 28 September. Telecom Italia is expected to discuss the issue at its next board meeting on 19 September. Sawiris, who previously controlled Italian operator Wind, approached Telecom Italia lastyear with an offer for a capital injection, but the board rejected the proposal. Italian daily la Repubblica reported earlier that Telecom Italia chairman Franco Bernabe will propose to the board a reserved capital increase to bring in a new investor. Sawiris is reportedly the favoured candidate to take new shares or acquire the stakes of the Italian financial investors.

Tags: report italia eye att

Telecom Italia moves into M&A spotlight

2013-09-01 06:25:22| Telecom - Topix.net

MILAN: Telecom Italia SpA shares jumped as much as 10 percent yesterday, on speculation it might be the next quarry in a recent upsurge in dealmaking in Europe's telecoms industry.

Tags: italia moves telecom spotlight

SKY Italia subscribers down 27,000 in 2Q 2013

2013-08-06 22:30:45| Digital TV News

Twenty-First Century Fox has reported results for the three months and full year ended June 30, 2013. SKY Italia experienced a net reduction of 27,000 subscribers during the quarter, bringing total subscribers to 4.76 million.

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Vodafone sues Telecom Italia for abuse of dominant position

2013-08-05 09:15:00| Telecompaper Headlines

(Telecompaper) Vodafone Group is suing Telecom Italia for abuse of its dominant position in Italy, seeking damages of over EUR 1 billion, reports Reuters. A Vodafone spokesperson said the civil action in a Milan court stated that Telecom Italia committed a series of abuses in the period 2008-2013, "with the intention and effect of impeding growth in competition in the Italian fixed-line market". As a consequence, Telecom Italia caused a loss of customers to Vodafone Italia, restricted the operator's ability to grow its fixed-line business, and forced it to pay artificially high costs to compete in the market.

Tags: position abuse italia telecom