Italy telco network should not fall into foreign hands-CDP investor

BOLOGNA, Italy, April 18 Thu Apr 18, 2013 7:22am EDT

BOLOGNA, Italy, April 18 (Reuters) - The speaker for a group of investors who control about 18.4 percent of Italy's state fund Cassa Depositi e Prestiti (CDP) rejected on Thursday suggestions that Telecom Italia's phone network could fall under control of a foreign player.

Telecom Italia is in preliminary talks with Hutchinson for a possible tie-up that could lead to the Hong Kong-based conglomerate taking the largest stake in the Italian telecoms operator.

"In general, domestic networks should not fall into foreign hands," Giuseppe Guzzetti, who chairs a group of banking foundations that invest in CDP, said when asked about the future of Telecom Italia's network.

Politicians and some sources close to the Telecom Italia talks have suggested that the CDP could take a stake in Telecom Italia's network.

(Reporting By Valentina Accardo, Writing by Lisa Jucca)

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