Telefonica, Telecom Italia merger: Bankers work on solution

www.WirelessFederation.com/news: Merger of Spain’s Telefonica SA and Telecom Italia has been planned by a group of unnamed bankers by creating a new holding company controlled by all the existing shareholders of the two telecommunication companies.

Currently, 23% stake in Telecom Italia is controlled by its core shareholders.

There would have been no need for a full takeover of the Italian peer if the above proposal would have been implemented by Telefonica. However, the solution for Telecom Italia has not yet been identified by the bankers.