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Spain’s Telefonica in talks to exit Telecom Italia: report

11
Jul
2014

(Reuters) – Spains Telefonica SA is in talks to sell its stake in Telecom Italia in a move that could ease regulatory pressure in Brazils wireless market, Brazilian newspaper Folha de S.Paulo reported on Friday. Telefonica is negotiating a deal with investment funds to sell its stake in Telecom Italia, the paper reported, without saying how it obtained the information. Telefonica is left with a nearly 15 percent direct stake in the Italian company after fellow investors voted to dismantle their controlling bloc. Representatives for Telefonica and Telecom Italia could not immediately be reached for comment.

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