Martedì, 16 Ottobre 2018
ROME

Telecom Italia shares plunge to new record low over delay

English
© ANSA

Rome, July 16 – Shares in troubled Telecom Italia
hit a record low on Tuesday after the company announced that it
was putting on hold its plans to spin off its fixed line
network.
In announcing its decision, Telecom Italia said it was
influenced by a regulator's proposal to cut tariffs on its
competition – a plan that would influence the feasibility of any
new spin-off.
So no further action will be taken until it hears more from
the regulator, said Telecom officials.
Franco Bernabe, chairman of Telecom, said that he remained
optimistic and confident in the project.
Shares in Telecom Italia fell by 3.4% in trading Tuesday,
closing at 49 euro cents per share.

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