Mercoledì, 26 Settembre 2018
MILAN

Telecom Italia plans spin-off of domestic fixed-line assets

English
© ANSA

Milan, May 30 - Telecom Italia's board of directors
approved a plan Thursday to put some of its domestic fixed-line
assets into a separate company - the first step in selling off
assets and paying down debt.
Telecom Italia said the copper and fibre-line network
assets, valued at as much as 15 billion euros, will be held in a
new company, a piece of which could eventually be sold to
state-backed fund Cassa Depositi e Prestiti (CDP).
Such a sale would help raise funds for the heavily indebted
telecom.
Meanwhile, Telecom Italia continues to consider a proposal
to merge its mobile operations with Hong Kong-based conglomerate
Hutchison Whampoa.
Its interest in Telecom had raised political red flags
about too much foreign investment in the domestic
telecommunications giant.
Telecom Italia's board also said it would immediately
inform Italy's telecoms regulator, which must approve the
spin-off.

© Riproduzione riservata

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