“If Telecom doesn't sell Tim Brasil, I'm interested”. The tycoon Naguib Sawiris confirmed his interest, however he declared that he would be "really interested in investing in Telecom Italia, in the event that Telecom decides not to sell Tim Brasil and to launch a capital increase".
At the same time, the Egyptian businessman denied the offer for Tim Brasil, explaining in a statement that the Italian telecommunications group “still needs 3-4 billion euros to reduce its debts and allow for possible investments. This amount could be raised through a capital increase, already proposed previously".
Sawiris says he is "encouraged" by the welcome words of the Deputy Minister of Economic Development, Antonio Catricalà ("they are welcome if they put the money in", he said yesterday), provided that Telecom does not give up Brazil. Sawiris reiterated that "the sale of Tim Brasil would not be in the best interest of Telecom Italia". The businessman therefore denies having made a 20 billion euro offer for Tim Brasil, considering it "totally false news".
The transfer market likes Sawiris' statements: mid-morning the Telecom title Italy in Piazza Affari earns over 2,5%, settling at around €0,8415 per share.
