May 21, 2019 / 2:20 PM / a month ago

Telecom Italia talking to banks on consumer finance JV

MILAN, May 21 (Reuters) - Telecom Italia is in touch with five banks over plans to create a joint venture to offer consumer credit services to its clients, its chief executive said on Tuesday.

“We will start discussions in the next few days,” Luigi Gubitosi said in a conference call on first quarter results.

Gubitosi said the idea was to free up working capital and reduce credit risk.

Reporting by Stephen Jewkes and Elvira Pollina

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