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Italy prosecutors say probing Telecom Italia-Telefonica deal
December 20, 2013 / 10:36 AM / 4 years ago

Italy prosecutors say probing Telecom Italia-Telefonica deal

ROME, Dec 20 (Reuters) - 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 stage.

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