Government would not oppose Telefónica stake in TI

20 Feb 2007

The Italian government has said it would have no objection to a foreign operator taking a stake in Telecom Italia (TI) holding company Olimpia. The statement comes after reports which suggest that Telefónica of Spain is considering acquiring between 12% and 14% of Olimpia from current holder Pirelli; Olimpia has an 18% stake in TI. Dow Jones quotes Infrastructure Minister Antonio Di Pietro, who said: ‘We don’t place any limits on ownership, be it Italian or foreign, of the telephone company or public networks.’ The Italian government has in the past expressed concern over foreign ownership of national communications and transport infrastructure; a merger between Italy’s toll-road operator Autostrade and Spanish counterpart Abertis was called off last year after pressure from the government.

Italy, Telecom Italia (TIM), Telefonica