TI calls time on Hutch merger discussions

As had previously been rumoured, Telecom Italia (TI) has officially ended talks with Hutchison Whampoa regarding the potential merger of their Italian mobile businesses, preferring to focus instead on a plan to spin off its fixed line network. A brief press release issued by the company stated: ‘According to the management report on the conclusion of the discussions with the counterparty, the board of directors noted that, at present, there are not the elements necessary to start negotiations’.