Telecom Italia scraps Sept. 19 board meeting-sources
MILAN, Sept 16
MILAN, Sept 16 (Reuters) - Telecom Italia has scrapped a crucial board meeting due to take place on Sept. 19 as it needs more time to figure out a new shareholder structure, two sources with knowledge of the situation told Reuters.
The board was expected to discuss a proposal by Spanish telecoms operator and investor Telefonica to buy out core Italian shareholders in Italy's biggest fixed-line group.
"Shareholders were told the planned board meeting will not take place," said one of the sources, adding that Chief Executive Franco Bernabe was not yet ready to present a new strategic option.
A second source confirmed the board meeting had been cancelled. Directors are due to meet again on Oct. 3.
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