MILAN, April 22 (Reuters) – Hutchison Whampoa is
targeting Telecom Italia’s mobile business and would
not oppose a spin-off of its fixed-line network, thus removing a
major political hurdle to a deal, a source familiar with the
matter told Reuters.
Italy’s biggest phone operator and the Hong Kong-based
conglomerate are in preliminary contacts over a possible tie-up
that would see Hutchison owning 29.9 percent of Telecom Italia
after selling its 3 Italia mobile business to the group and
buying out some other shareholders.
MILAN, April 22 (Reuters) – Hopes of an end to two months of
political deadlock in Italy drove its financial markets higher
on Monday after the re-election of 87-year-old Giorgio
Napolitano suggested parties may be nearer a deal to form a
Napolitano, elected after days of squabbling thanks to a
broad agreement between some of Italy’s main political groups,
had earlier made clear that he favoured a new government over
potentially destabilising new elections.