M&A not on agenda says Telecom Italia

24 Sep 2008

The chief executive of Telecom Italia says mergers and acquisitions are not on the company’s agenda. Franco Bernabe has dismissed recent rumours linking the Italian firm as a potential bidder for pan-African mobile operator MTN and as an investor in a telecoms venture in India with real estate firm Unitech. He says Telecom Italia is focussed on other priorities as it works to reduce its EUR37 billion (USD54.6 billion) debt. ‘M&A (mergers and acquisitions) are not on our agenda. We have our priorities … and we are concentrating on them without losing focus,’ Reuters quotes Bernabe as saying. ‘All these rumours are baseless,’ he added.

Italy, Telecom Italia (TIM)