Giorgio #Napolitano has been re-elected #Italy president
It remains a mistery to me why #Italy’s centre-left PD party could not accept Rodota or Cancellieri as candidate for the Italian presidency
For those who may not know it, the last one to ‘march on Rome’ was #Mussolini. #Grillo #Italy
The planned resignations of PD leader #Bersani show, once more, #Italy’s centre-left is unable to contain infighting. A sad epilogue
If the centre-left PD party implodes, #Italy risks remaining stuck between two large populist parties (Grillo and Berlusconi) #politics
MILAN (Reuters) – Telecom Italia has asked Chairman Franco Bernabe and four board members to assess proposals for a merger with Hutchison Whampoa’s local mobile phone unit 3 Italia, three sources familiar with the situation said on Thursday.
Earlier this week sources with knowledge of the situation had said Hong Kong-based Hutchison was interested in taking a near 30 percent stake in Italy’s biggest telecoms operator under a plan to sell 3 Italia to its rival.
MILAN (Reuters) – Telecom Italia’s board (TLIT.MI: Quote, Profile, Research, Stock Buzz) met on Thursday to discuss a potential tie-up with Hong Kong’s Hutchison Whampoa (0013.HK: Quote, Profile, Research, Stock Buzz), which sources say wants nearly 30 percent of the Italian firm.
Telecom chairman Franco Bernabe, under pressure to improve margins at the debt-laden phone company, hopes for initial backing for the plan; sources close to the talks say it would see Hutchison buy a 12-percent stake now held by three Italian investors and merge its Italian mobile phone unit 3 Italia with Telecom in exchange for about a further 18 percent in the group.
MILAN (Reuters) – Telecom Italia SpA (TLIT.MI: Quote, Profile, Research, Stock Buzz) Chairman Franco Bernabe will seek permission to deepen talks with the Hong Kong-based conglomerate said to be targeting 29.9 percent of the company, sources familiar with the situation said.
Bernabe, at the helm of Italy’s biggest phone group since Spanish competitor Telefonica (TEF.MC: Quote, Profile, Research, Stock Buzz) and three Italian investors took control in 2007, is under pressure from shareholders to deliver a strategy that can lift the company’s shares from current near-record laws.