Mediobanca will sell the stake in Telecom Italia, which it will directly own after the spin-off of Telco, by 30 June. This was reported by sources close to the dossier. The sale of the securities, equal to a 1,64% stake, will take place on the market. After the go-ahead obtained from the Argentine antitrust authority, the last authorization that was missing to proceed with the demerger - announced yesterday - it will take a couple of weeks to formalize the notarial deeds that will lead Mediobanca and the other Telco shareholders to become owners directly from the titles.
Telco owns a total of 22,4% of Telecom. Telefonica will be assigned 14,77%, of which 8,3% will be transferred to Vivendi, while the rest has been linked to a convertible bond. Generali will have 4,32% and Intesa Sanpaolo 1,64%, like Mediobanca. Just today though Vivendi announced which is preparing to become the first shareholder of Telecom Italy, acquiring the 8,3% of the Italian group from Telefonica.
