Telecom Italia's Major Shareholder Favors Merger With Telefonica
Posted on: Tuesday, 15 April 2008, 09:01 CDT
Marco Fossati, an Italian businessman, who is also Telecom Italia's second largest shareholder, is in favor of a merger between the Italian telecommunication service provider, Telecom Italia, and the Spanish telecommunications company, Telefonica, by 2011, reported Thomson Financial, citing Finanza & Mercati as its original source.
According to Mr Fossati, who holds a 4.45% stake in Telecom Italia, it would be in the best interests of the two companies, and an ideal situation if the merger is completed through a share swap in two or three years, or at the latest in 2011.
Mr Fossati is reported to have hinted at three or four international groups that could be interested in taking over the E40 billion worth Telecom Italia.
Source: Datamonitor
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