Reuters logo
Telecom Italia shares extend losses amid capital hike talk
October 25, 2013 / 12:38 PM / 4 years ago

Telecom Italia shares extend losses amid capital hike talk

MILAN (Reuters) - Shares in Telecom Italia accelerated losses on Friday afternoon after a report said the debt-laden company might propose a rights issue for up to 2 billion euros ($2.8 billion).

A Telecom Italia phone booth is pictured in front of St Peter's Basilica in Rome September 24, 2013. REUTERS/Alessandro Bianchi

“The stock is extending losses on the report,” a trader said. “If they have to do a capital hike, 2 billion euros is a bit on the small side and would not guarantee they might have to launch another one.”

Bloomberg reported on Friday that Telecom Italia was considering a plan to raise 1.5-2 billion euros from existing shareholders including Spain’s Telefonica.

Telecom Italia was not immediately reachable for comment.

Reporting by Stefano Rebaudo, editing by Danilo Masoni

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below