"I really think Telco's breakup will be in June." This is the position of Tarak Ben Ammar, director of Mediobanca and TelecomItalia, on the position of Piazzetta Cuccia in view of the June window which will allow the shareholders of Telco (holding company which owns 22,4% of Telecom) to dissolve the agreements in force and to acquire direct possession of the shares of the telephone group.
“Mediobanca has always said it wants to leave – he added -. I'm not speaking for the Mediobanca board of directors, but it's the logic, because we don't have the vocation to remain shareholders in a pact".
In recent days Gabriele Galateri di Genola, president of Generali, had referred to the "technical window" of the second part of June, from 15 to 30, as a possible opportunity for the company to dissolve the Telco pact.
In Telco, the Spanish Telefonica is the leading shareholder with 66%, Generali has 19,3%, Intesa Sanpaolo and Mediobanca 7,3% each. The dissolution would bring Telecom shares directly into the hands of the four shareholders, with Telefonica becoming the first shareholder with 15%.
"Telecom is moving towards a public company," concluded Ben Ammar.
Today at the opening of Piazza Affari, Telecom Italia shares drop 0,7%.
