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Telecom Italia investor group Telco formalises break up

2015-06-18 08:34:00| Telecompaper Headlines

(Telecompaper) Telefonica has announced that the four investors that make up Telecom Italia's holding company Telco SpA have formalised its demerger. In a statement to Spain's market regulator CNMV, Telefonica confirmed that when the demerger is recorded at the Companies Registry, it will have 14.72 percent of ordinary Telecom Italia shares, while Assicurazioni Generali will have 4.31 percent, and Intesa and Mediobanca 1.64 percent each. Four new companies will be created as a result: Telco Te Spa (Telefonica), Telco AG (Generali), Telco IS (Intesa Sanpaolo) and Telco MB (Mediobanca). It added that the eight-year pact among Telco investors will cease to have effect once the demerger is effective.

Tags: group break italia investor

Category:Telecommunications

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