TI considering capital increase of up to EUR2bn

28 Oct 2013

Telecom Italia (TI) is considering requesting a capital increase of as much as EUR2 billion (USD2.8 billion), Bloomberg reports, citing three people familiar with the matter. The Italian telco, which is in a state of flux following the resignation of chairman Franco Bernabe, is said to be evaluating a proposal to raise between EUR1.5 billion and EUR2 billion from shareholders, including Spain’s Telefonica – the company whose pursuit of an enlarged shareholding prompted Bernabe’s departure. Although a final decision has yet to be made, the option could be presented to the board at a meeting scheduled for 7 November, the sources suggested.

Italy, Telecom Italia (TIM)