Telecom Italia lengthens its pace in Piazza Affari, despite the fact that the Brazilian authorities are on a war footing against Telefonica's move to tighten its grip on the Italian group. Securities rose by 1,7% to 0,69 euro.
According to press reports, the Brazilian Antitrust could fine Telefonica (already present in the South American country) if it does not sell its recently subscribed Telco shares, in order to respect the agreements signed in the past with the Brazilian authorities. The position of the Carioca technical committee could make the share reorganization operation in Telco, the box that holds 22,5% of Telecom Italia, even more complicated. So the market is already betting on possible twists and turns, with the entry of some operators with no conflicts of interest.
