Tax probe at Telecom Italia

1 Apr 2008

Telecom Italia could be facing a EUR5 billion (USD7.9 billion) tax bill in relation to a number of transactions, including its 2005 merger with mobile subsidiary TIM. The telco says the merger was carried out properly, but local newspaper Il Sole 24 Ore reports that the Italian tax office opened an investigation into the deal at the end of last year.