You seat her Telecom Italy of Milan and Rome this morning underwent an inspection by Consob officials and the currency police nucleus of the Guardia di Finanza. As far as we know, the initiative came from the Commission, which asked for the operational support of the Fiamme Gialle. The investigations concern the resolutions passed by the Board of Directors of Telecom last November 7, including the sale of assets in Argentina and converting from 1,3 billion euros.
In 2014-2016 plan developed by the managing director, Marco Patuano, a capital strengthening of four billion euros is assumed. Both the convertand and the decision to sell the Argentinian subsidiary are measures strongly criticized by representatives of the company's minorities, including Asati and Findim.
The inspection may have been triggered by the request to Consob by Assati, the association that brings together the company's small shareholders. In a letter also sent to the Commission on 11 November, the chairman of Asati, Franco Lombardi, had requested the publication of the minutes and to know "the position of all the independent directors in any decisions taken today... We reserve the right to resort to competent legal offices, not least the judiciary, to obtain the protection of our rights and above all transparency towards the market".
At the beginning of the afternoon, the Telecom Italia stock dropped 0,8%.
