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Telecom Italia COO declines to comment on possible H3G tie-up
April 5, 2013 / 9:21 AM / 5 years ago

Telecom Italia COO declines to comment on possible H3G tie-up

MILAN, April 5 (Reuters) - Telecom Italia’s COO Marco Patuano declined to comment on Friday about media speculation of a possible tie-up with H3G ahead of a board meeting next week to assess the group’s strategic options.

On Thursday shares in Telecom Italia surged after reports it could discuss merging with Hutchison Whampoa’s Italian wireless unit H3G at next week’s board meeting.

Patuano, who heads the group’s Italian operations, confirmed Telecom Italia’s board would meet on April 11.

He also said no talks were under way about possible M&A operations with funds from Abu Dhabi and Qatar.

Shares in the former telecoms monopoly pared losses to turn higher after his comments and by 0905 GMT they were up 2 percent at 0.59 euros, still close to all-time lows. (Reporting By Stefano Rebaudo, editing by Danilo Masoni)

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