MILAN, April 5 (Reuters) - Telecom Italia said on Friday there had been preliminary contacts with the Hutchison Whampoa group to study a possible integration with its 3 Italia unit, also known as H3G.
“The contacts are in such embryonic and preliminary state that the company cannot further comment on the news,” Telecom Italia said in a statement.
Shares in Telecom Italia surged on Thursday after reports the debt-laden Italian telecoms company could discuss merging with 3 Italia.
Telecom Italia said the matter would be brought before the board at a meeting scheduled for April 11.
Shares in the group accelerated gains after the company statement and rose more than 4 percent. (Reporting By Stephen Jewkes; Editing by Lisa Jucca)