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Telecom Italia SpA Board To Weigh Hutchison Whampoa Ltd Option-Reuters


Thursday, 11 Apr 2013 03:30am EDT 

Reuters reported that the Board of Telecom Italia SpA will meet on Thursday to discuss a potential tie-up with Hutchison Whampoa Ltd, which sources familiar with the talks say is targeting nearly 30% in the Italian group. Chairman Franco Bernabe, under pressure from shareholders to improve margins at debt-laden Telecom Italia, is likely to win permission from the board to deepen talks, which both Telecom Italia and Hutchison said this week are at a preliminary stage. Italian newspaper Il Messaggero on Thursday reported that Bernabe and representatives from Hutchison have already signed a non-binding, confidentiality agreement to continue discussions. 

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