Telecom Italia board meeting delay will help deal - junior minister
ROME, Sept 17
ROME, Sept 17 (Reuters) - A decision by Telecom Italia to postpone a board meeting will help its core shareholders reach an agreement on the strategic options for the debt-laden company, junior minister Antonio Catricala said on Tuesday.
Telecom Italia delayed on Monday a crucial board meeting to Oct. 3 from Sept. 19, buying time to seek a new shareholder structure that could revive its fortunes after years of underperformance. [ID>nL5N0HC26I]
"Telecom is a company with enormous development potential. If there is a problem of strengthening its shareholder structure Telco will solve it in a wise manner," said Catricala.
Catricala also said Telecom Italia was still pursuing a plan to spin off its fixed line access network although it was not possible to make a forecast on how long such a project would take.
Telefonica is the biggest shareholder in Telco, the holding that controls Telecom Italia with a 22.4 percent stake. Telco also includes Italian banks Intesa Sanpaolo and Mediobanca, as well as insurer Generali.
(Reporting by Alberto Sisto, writing by Danilo Masoni, editing by Isla Binnie)
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