Day of grace today on the Stock Exchange for the Telecom Italia stock, which is one hour away from opening earn almost 5 points, clearly ahead of the Ftse Mib. The wave of purchases is explained by the rumors about theEgyptian businessman Naguib Sawiris, who allegedly proposed an investment of up to 5 billion euros in the company to the top management of Telecom Italia.
The Wall Street Journal reports it, citing sources close to the Italian company. According to the newspaper, the offer, which could give Sawiris a stake of up to 30% in the telecommunications group, was officially presented to the board of directors last week.
An operation of this type could encounter obstacles, especially from a regulatory point of view, with Sawiris - adds the newspaper - which could launch a purchase offer on the entire capital of Telecom, a company operating in a sector well known by the businessman, already present in Italy with Wind (now Vimpelcom group).
Last week Telecom Italia announced a quarterly more than positive: profit was slightly better than analysts' expectations, net debt much better.
In the morning, at the request of Consob, Telecom specified that "in recent days the company has received a communication from Mr. Naguib Sawiris, in which the interest in investing in the capital of Telecom Italia Spa is represented through the subscription of shares of new emission. The initiative is described as aimed at providing the company with resources to be allocated to growth projects. The document was read out at the meeting of last November 8th of the Board of Directors which limited itself to acknowledging it, reserving any appropriate evaluation for downstream of the necessary checks by the management of the company".
