Telecom Italia fixed-line spinoff better with company's plan - junior min
ROME, Sept 25
ROME, Sept 25 (Reuters) - The fixed-line access network of Telecom Italia could be spun off by law but it would be better to do so by using the telecom group's own plan, a junior minister in Italy's government said on Wednesday.
"Better to seize the opportunity and go ahead with the network spinoff plan drawn up by the company," Industry junior minister Antonio Catricala said on the sidelines of a conference.
"Certainly if the spinoff is done by law what absolutely cannot be done is expropriation without indemnity," Catricala said.
On Tuesday Telefonica reached a deal with the Italian shareholders of Telco that will allow the Spanish group to gradually take full control of the vehicle that controls Telecom Italia.
Catricala said Telefonica would have to speak to the government on the issue of spinning off the fixed-line network.
"They must talk to us, it's not like they come here, buy something and then apply their laws," he said.
Telecom Italia's chairman Franco Bernabe has previously drawn up fixed-line spin-off plans that could involve state lender Cassa Depositi e Prestiti. (Reporting by Alberto Sisto, writing by Stephen Jewkes)
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