“If there is availability, a formula will be found: it must be in the interest of both and it must absolutely respect the criteria of cost-effectiveness. We and Cdp have profitability constraints and within this I think an agreement will be found“. Said the executive chairman of Telecom, Franco Bernabe, on the sidelines of the presentation of Romaeuropea Festival 2012, with reference to open dialogue with Cassa depositi e prestiti for the creation of a new ultra-broadband network throughout Italy.
As for Telecom's stock on the Stock Exchange, “the markets don't want uncertainties and resources being wasted – added Bernabè -. Our history in recent years is not one of wasting resources or investing in projects with no returns. Instead, it was preferred to reduce debt with a strong focus on investments and infrastructures”.
The situation on the markets “is tense and this penalizes us. The entire Italian market is possible prey because capitalization is at ridiculous levels. Our companies must be taken back: Italy remains the eighth industrial country in the world and cannot afford to have its companies sold off".
The low capitalization of the Italian market, according to Bernabè, “is something that everyone has to worry about. Capitalization is a fraction of that of other countries and this is very worrying because Italy has large companies, even of an international level, and the last thing it can afford is to lose them: it is not in the country's interest to put our industry on balance ”.
Bernabè has finally later denied the rumours of the past few days on a possible merger between Telecom and Mediaset: “Absolutely not – he said -. There is no relationship with Mediaset”.
