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Telecom Italia rises on government plan rumors

The stock jumped 1,7% at the opening and then fell and climbed back to 2% mid-morning on press rumors according to which the government has an anti-Vivendi plan ready and would bring Cdp to the field in defense of the national champion

Telecom Italia rises on government plan rumors

The title is in fibrillation Telecom Italy on the stock exchange. It is the rumors of an intervention by Cassa depositi e prestiti, collected and published by La Stampa, that have given the turbo to the shares of the group that Vincent Bolloré, president of Vivendi and promoter of the takeover of Mediaset, with a reference share of 24% .

According to the Turin newspaper, the government is planning to take measures to prevent the controlling stake in Telecom from passing to Orange (the former France Télécom controlled by the French government) as an ancillary measure to Vivendi's takeover of Mediaset: not being able to keep the control of both for antitrust reasons already highlighted by Agcom and to recover cash, Bolloré would plan to sell the stake to Orange according to rumors filtered by France. At this point, CDP's entry into the capital would serve to prevent the operation on Telecom in defense of a national interest represented by the Italian operator's copper and fiber network, a strategic asset given that whoever commands Itelecom controls the traffic of data and communications in Italy. The government could invoke the "golden power", the rule agreed with Brussels which allows it to intervene even in listed companies "in case national interests are put at risk".

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