Giovedì, 20 Settembre 2018

Cabinet following Telecom's spin-off plan, minister says


Rome, July 17 - The Italian government is following
Telecom Italia's plan to put some of its domestic fixed-line
assets into a separate company "with great attention because it
has national relevance", Industry Minister Flavio Zanonato said
on Wednesday.
Zanonato also noted that "the problem is to meet the
country's needs and not put Telecom in a difficult position".
Telecom's spin-off would be the first step in selling off
assets and raising funds for the heavily indebted company.
On Tuesday however the company announced that it was
putting on hold its plans to spin off its fixed-line network
following a regulator's proposal to cut tariffs on its
competition in a plan that would influence the feasibility of
any new spin-off.
Zanonato said he would meet Franco Bernabe, chairman of
Telecom, "in the coming period" to discuss the issue.
Bernabe said Tuesday that he remained optimistic and
confident in the project.

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