Mediobanca does not plan to invest any more money in telecoms operator Telecom Italia (TI), an investment that has resulted in heavy losses over time, Reuters reports. In a conference call with shareholders, CEO Alberto Nagel confirmed that the bank would prefer to exit the debt-laden Italian operator. Mediobanca is one of four core investors that indirectly own a joint 22.39% stake in TI through holding company Telco. Yesterday it was reported that Spain’s Telefonica saw its EUR800 million (USD1.07 billion) offer to buy out its partners in Telco rejected.
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