Sawiris launches into European telecommunications, but Spain's Telefonica says no: "We are stable investors in Telecom Italia and we are not considering monetizing our stake in Telco". Thus, speaking at the conference on tmt organized in Barcelona by Morgan Stanley, the financial director Angel Vila, according to which Telecom does not need a recapitalization anyway.
A defensive position therefore that of the Iberian group which however, according to informed sources, would have the aim of blocking the way for the Egyptian tycoon, behind whom - many are convinced - the shadow of Carlos Slim, the bitter Mexican rival, extends of Telefonica in South America, which recently launched a purchase campaign, at discounted prices, on European telecoms.
After the Dutch Kpn and Telekom Austria – where he was helped by Sawiris – Slim would be willing to continue the European risk by focusing on the slightly bigger morsel of Telecom Italia, which by the way has an important presence in Brazil and Argentina.
