ROME Dec 20 Rome prosecutors are investigating
the reorganisation of the shareholding of Telco, the holding
company that controls Telecom Italia, the chief
prosecutor said in a statement on Friday.
"The Rome prosecutors' office, since the first days of
October this year, has closely followed the developments of the
Telecom affair" in cooperation with the regulator, the statement
from chief prosecutor Giuseppe Pignatone said.
Italian media said the prosecutors were investigating
whether there was an agreement between Telco's Italian
shareholders and Telefonica to boost the Spanish company's grip
on the Italian phone group.
The Spanish group owns 66 percent of Telco, with the
remainder held by its Italian partners Assicurazioni Generali
, Intesa Sanpaolo and Mediobanca.
Telco controls 22.4 percent of Telecom Italia.
The prosecutor's statement did not give any details, but
said that no individuals were under formal investigation at this