12 November 2013 - Italian stock market regulator Consob
has started examining Telecom Italia SpA's (BIT:TIT) assets disposal programme, which the Italian telecom company approved last week as part of its new three-year business strategy, aimed at strengthening its financial position, Reuters reported today, quoting a source close to the watchdog.
is the public authority responsible for regulating the Italian securities market and protecting the investing public.
The Italian group said earlier that the Italian stock market regulator Consob
was inspecting its offices together with the finance police to get information about its plan to sell its stake in Telecom Argentina.Country: ArgentinaSector: TelecommunicationsTarget: Telecom Argentina SABuyer: Fintech Group Vendor: Nortel Inversora SA, Telecom Italia International NV, Sofora Telecomunicaciones SA, Telecom Italia SpA, Tierra Argentea SADeal size in USD: 960m Type: DivestmentStatus: Agreed
The tie-up will become effective on 1 December 2013 after the deed has been filed to the Rome Companies Register and conditional on approval by stock market regulator Consob
14 November 2013 - Telecom Italia SpA (BIT:TIT) said that Italian stock market regulator Consob
was inspecting its offices together with the finance police to get information about the Italian telecom group's plan to sell its stake in Telecom Argentina SA (NYSE:TEO).
The country's central bank holds 4.613% of the interest, according to Consob
, but data on Unicredit's website shows that the stake is now 4.988%, which lifts Libyan investors' interest to 7.578%, Il Sole added.
The Italian telecom group made the statement at the request of the local stock market regulator Consob
. It agreed to sell the unit in the middle of last month to investment fund Fintech Group, as part of its three-year business strategy aimed at strengthening its financial position.