TI board expected to back fixed line spin-off plans

30 May 2013

According to Reuters, Telecom Italia’s board is expected to give its preliminary approval to a plan to spin off its domestic fixed line access network later today. However, the move is expected to be opposed by Spain’s Telefonica, the largest investor (46%) in Telco, the shell company that controls 22.39% of TI. Telefonica does not want to create a precedent in its domestic market, an anonymous source told Reuters, although the Spanish firm’s disapproval will not be sufficient to block the mooted separation.

Italy, Telecom Italia (TIM)