The awaited Telecom Italia board of directors called to take stock of the proposed integration with 3 Italia of the Chinese group Hutchison Whampoa ended after six hours. Mouths sealed at the end of the meeting but according to rumors the board of directors would have decided to go ahead with the 3 Italia dossier to investigate the matter further. In particular, he would have mandated three group directors, Julio Linares of Telefonica, Elio Catania of Intesa Sanpaolo, Gabriele Galateri of Generali, to assist Franco Bernabè in his exploratory mandate for integration. A procedure that would be motivated by the nature of the transaction which would have repercussions on both Telecom and Telco. ”There is no tension, we discuss. It is democracy”, Tarak Ben Ammar said at the exit of the board of directors. The title rises by 2,57% among the best Ftse Mib stocks.
After confirmation in recent days by Telecom Italia of preliminary contacts with the Italian group, further details have emerged on the possible integration operation. The tycoon would aim to transfer 3 Italia to Telecom on the condition that he can acquire the relative majority of the Italian telecommunications group led by Franco Bernabè. In fact, the transfer of assets would bring him around 20-25% of the group and Whampoa said he was willing to buy a further quantity of shares in cash such as to rise to 29,9% of Telecom, therefore below the takeover bid threshold.
