Italy regulator starts assessment of Telecom Italia spin-off plan
ROME, June 4
ROME, June 4 (Reuters) - Italy's telecoms regulator AGCOM said on Tuesday it had started assessing the regulatory and market impact of Telecom Italia's plan to spin off its fixed line access network.
Telecom Italia agreed on Thursday to put some of its network assets - valued at between 13 billion euros ($17 billion) and 15 billion - into a separate company, with a view to selling a stake in that new entity to state-backed fund Cassa Depositi e Prestiti (CDP).
In a statement, AGCOM said it had received a document from Telecom Italia over the project but had asked for more information to clarify which assets will be spun off, the governance of the network company as well as timing of the plan.
Shares in Telecom Italia have lost ground in the last few days on disappointment at a lack of detail and no timeframe in the spinoff plan. (Writing By Danilo Masoni)