Hutchison Whampoa Ltd Targeting 29.9% of Telecom Italia SpA-Reuters

Tuesday, 9 Apr 2013 04:37am EDT 

Reuters reported that Hutchison Whampoa Ltd could be targeting a stake of 29.9% in Telecom Italia SpA as part of a deal that would give the Italian company Hutchison's local mobile business, 3 Italia, newspaper Il Messagero reported. The Hong Kong-based group would be willing to buy some Telecom Italia shares at EUR1.2 each in cash in addition to selling 3 Italia for shares in Telecom Italia. This price is twice the current market price of Telecom Italia shares but equivalent to the value that controlling shareholders have booked in their accounts. 

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