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Telecom Italia Pares Gains As Report Denied: Milan Mover
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Jeremy Dale Thompson  
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 More options Jun 21 2012, 2:37 am
Newsgroups: alt.dcom.telecom
From: Jeremy Dale Thompson <jeremydale.thompo...@gmail.com>
Date: Wed, 20 Jun 2012 23:37:56 -0700 (PDT)
Local: Thurs, Jun 21 2012 2:37 am
Subject: Telecom Italia Pares Gains As Report Denied: Milan Mover
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Telecom Italia SpA (TIT) pared gains in Milan trading after state lender Cassa Depositi & Prestiti SpA denied a report in Il Sole 24 Ore newspaper on the creation of a fixed-line network venture with Italy’s biggest phone operator.

Telecom Italia was trading up 3.3 percent at 70 cents as of 11:02 a.m. after a jump of as much as 6.4 percent earlier in the day. The stock has declined 16 percent this year, valuing Telecom Italia at 12.8 billion euros ($16.1 billion).

A unit of Cassa Depositi & Prestiti may invest 3 billion euros in the partnership, with Telecom Italia contributing its fixed-line unit, Il Sole 24 Ore said. CDP “isn’t aware” of the proposal, and Chairman Franco Bassanini hasn’t scheduled a “secret meeting” that the newspaper reported was planned with Telecom Italia Chief Operating Officer Marco Patuano, according to an official for the lender who spoke by phone today. Rome- based Telecom Italia called the report “groundless.”

Continue reading: http://boonplanet.com/?sbarticlelist&start=1&pagerow=1&page=1


 
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