Fastweb sale speculation intensifies

The share price of Italian broadband provider Fastweb leapt up almost 7% yesterday on the back of fresh speculation that majority shareholders, Chairman Silvio Scaglia and former Deputy Chairman Carlo Micheli, might sell their stakes. Scaglia holds 25% of Fastweb, whilst Micheli controls close to 10%. The stock closed up 6.7% at EUR41.51. Last month, the press reported that Micheli was considering selling his shares, but this was later denied.