Copying and distributing are prohibited without permission of the publisher
Telecom Italia stakeholder plans capital raise
02 May 2012
Partners in Telecom Italia's unlisted shareholder Telco to take up stake in capital increase for an undisclosed amount
Telecom Italia’s unlisted shareholder Telco — whose shareholders include Telefónica — will undertake a capital increase for an undisclosed amount, reports Reuters citing Giovanni Perissinotto, chief executive of another Telco investor, Assicurazioni Generali.
Telco has €3.4 billion in debt which will mature by 2013. Apart from Telefónica and Generali, Telco’s investors include Intesa, Mediobanca and Sanpaolo.
Telecom Italia is the incumbent in Italy, where it also owns mobile operator TIM, and has businesses in South America.
Perissinotto at the Generali shareholders' meeting said: “All partners will take up their stakes in the capital increase.” However, he did not disclose the amount. GTB
More from GTB
Telecom Italia 'considers network spin-off' 05 Apr 2012
Telecom Italia invests in alpine fibre 19 Dec 2011
Vivendi says no Telecom Italia stake 09 Nov 2011
Telecom Italia denies TIM Brasil sale 07 Sep 2011