Mediobanca to sell Telecom Italia stake

The Telecom Italia (TI) shareholder Mediobanca has said it plans to divest its 1.6% stake in the operator by the end of June. The investment bank was previously part of the Telco consortium along with Spanish operator Telefonica, insurance group Generali and retail bank Intesa Sanpaolo, but the partnership was dissolved last year as Telefonica opted to exit TI to avoid competition problems in Brazil, where both telcos are active in the mobile market. Telefonica has seen its TI stake assumed by French group Vivendi as part of the Spanish firm’s takeover of Vivendi’s Brazilian operator GVT.