Sistema eyes Italian opportunity

19 Jan 2007

Russian industrial conglomerate Sistema is reported to be interested in acquiring a minority stake in Telecom Italia from the Pirelli Group. Russian newspaper Kommersant quoted Sistema’s president, Alexander Goncharuk, who said: ‘We are really interested in the company but we have not agreed on anything yet.’ Sistema is looking to expand its telecoms business, which already includes shares in Russia’s largest cellular operator MTS and the largest alternative wireline telco, Comstar UTS. Pirelli is selling part of its 80% stake in Olimpia, a holding company which controls 18% of Telecom Italia. Hinduja of India is also thought to be studying the opportunity of buying into one of Europe’s largest telcos.

Italy, Mobile TeleSystems (MTS), Telecom Italia (TIM)