Telefonica to further reduce Telecom Italia stake

17 Jul 2014

Telefonica of Spain has announced plans to sell EUR750 million (USD583.5 million) in bonds which convert to Telecom Italia (TI) shares, effectively reducing its stake in the Italian operator from around 15% to approximately 10%. Reports suggest that this could be the first step in Telefonica exiting TI altogether. As reported by CommsUpdate last week, Telefonica is rumoured to be negotiating with unnamed investment funds to offload its stake in the Italian operator, whose TIM Brasil unit competes against Telefonica’s Vivo operation in Brazil’s cellular sector. That country’s telecoms regulator Anatel and competition watchdog CADE have called for Telefonica to exit either Vivo or TIM Brasil to ensure full competition in the local market. Earlier this month Telefonica sold EUR139 million of bonds which are convertible into TI shares.

Italy, Telecom Italia, Telefonica,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share