Telecom Italia, Vegas (Consob): "Public offer obligation only over 30%". And the stock starts off badly on the Stock Exchange

“Current Italian legislation links the obligation of a takeover bid to exceeding 30% of the share capital with the right to vote, regardless of the fact that the stake acquired corresponds to a situation of control of the listed company”. This was stated by the president of Consob, Giuseppe Vegas, putting an end to the various interpretations, in a hearing in the Senate on the events of Telecom Italia after the restructuring of Telco and the transition to Telefonica. This morning at the opening of Piazza Affari, Telecom Italia shares lost almost 1% to 0,5665 euros.