BlackRock cuts stake in Telecom Italia to 4.8 pct

MILAN, March 18 Tue Mar 18, 2014 7:59am EDT

MILAN, March 18 (Reuters) - U.S. money manager BlackRock has cut its stake in Italian phone group Telecom Italia to 4.8 percent from 7.79 percent on March 12, a filing with market regulator Consob showed on Tuesday.

The stake makes BlackRock the third largest shareholder in Telecom Italia after Spain's Telefonica and businessman Marco Fossati.