Telecom Italia's Bernabe says European telecoms need consolidation
MANTUA, Italy Sept 4
MANTUA, Italy Sept 4 (Reuters) - Telecom Italia Chairman and CEO Franco Bernabe said on Wednesday that the highly-fragmented telecoms sector in Europe needed to consolidate.
"In Europe there are one hundred mobile operators and two hundred fixed-line players. All I can say is that a process of consolidation is necessary," he told reporters on the sidelines of an event when asked about a possible merger with Telefonica .
Shares in Telecom Italia have risen sharply in the last few days on speculation it could become a target of a takeover in a sector shake-up as its core investors are seeking to sell their stakes.
Bernabe also said Telecom Italia would hold its next board meeting on Sept. 19.
(Reporting by Stefano Rebaudo, writing by Danilo Masoni, editing by Jennifer Clark)
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