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Hutchison Whampoa eyes 29.9% of Telecom Italia - report
2013-04-09 11:35:00| Telecompaper Headlines
(Telecompaper) Hutchison Whampoa wants to acquire a 29.9 percent stake in Telecom Italia and said it will pay EUR 1.20 cash for the shares, Italian daily Il Messaggero reported. This is twice Telecom's Italia's current share price but equal to the valuation of the shares by the company's largest shareholder, the Telco consortium. Hutchison Whampoa's adviser Goldman Sachs sent a Memorandum of Understanding to Telecom Italia head Franco Bernabe on the proposal, the paper's sources said. This would make Hutchison the biggest shareholder in the Italian operator and forms part of talks to merge its unit 3 Italia with Telecom.
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Category:Telecommunications