Telecom Italia Said to Mull Owners Change Amid Investor Hunt

Telecom Italia SpA, Italy’s largest phone company, is considering an overhaul to its ownership structure as controlling shareholders are allowed to exercise a right to end a six-year partnership this month, according to two people familiar with the matter.

Telecom Italia has renewed contact with Egyptian billionaire Naguib Sawiris, whose bid to acquire a stake in the Milan-based carrier was rejected last year, said the people, who asked not to be identified discussing confidential deliberations. Telefonica SA, which owns almost 22.5 percent of Telecom Italia with three financial investors through holding company Telco SpA, is considering whether it would acquire additional shares from the partners, another person said.