Deals
Telecom Italia Said to Plan Hiring Advisers for Grid Spinoff
- CEO disclosed company’s intention to Italian minister Monday
- Move could ease government concerns over Vivendi’s influence
This article is for subscribers only.
Telecom Italia SpA plans to hire advisers to explore a spinoff of its landline network, a move that would address government concerns about main shareholder Vivendi SA’s influence over an asset viewed as in the national interest, people familiar with the matter said.
The carrier would keep control of the network, and a sale of a minority stake would raise cash to help Telecom Italia reduce its debt pile, said the people, who asked not to be named because the discussions are private. Chief Executive Officer Amos Genish disclosed the plans to hire two advisers to evaluate costs and benefits of a spinoff to Carlo Calenda, Italy’s minister of economic development, in a meeting in Rome on Monday, the people said.