TELECOM ITALIA, ONLY “GRAY SMOKE”. ON THE NETWORK AND H3G WE WILL DECIDE IN A MONTH
Telecom moves forward on the 3 Italia and Rete dossiers and updates itself with a new Board of Directors in a month's time. The gray smoke is revealed by Tarak Ben Ammar, chased through the streets of central Milan in the short journey between the company's headquarters and Mediobanca, a few minutes after the end of the long board of directors (five hours in all) of the telecommunications company, dedicated both to quarterly and to the investigation of the essays on the H3G proposal and on the creation of a spa in which to transfer the network.
"There is no mandate to negotiate - explains Ben Ammar - but there will be a board of directors within a month at the latest". In short: times are short, the economic situation is worrying as shown by the accounts for the quarter, opinions remain, for now, distant. But, as Jean Paul Fitoussi hinted when asked at the end of the meeting, "It went well". In other words, the feared rift with Telefonica, Telco's 46% strong industrial shareholder, has not been completed. "No one said no a priori - added Ben Ammar in this regard - we need to see the values that will emerge and if they will bring wealth to all shareholders". And down to repeating, several times, that the council was "very constructive and collaborative but that there was 'no mandate to negotiate' with H3G even if 'there is certainly a dialogue to better understand'".
In short, d-Day resulted in the umpteenth postponement, as recorded by Piazza Affari where the stock floats in the afternoon with a contained loss, around 0,3%, after having suffered a much more pronounced drop in the morning. Now the wait moves on to the results, which will be the subject of the conference call scheduled for tomorrow at 12.
