Telecom
Telecom Italia Reject Italy’s Bid for Subsea Cable Unit
Pedestrians pass a Telecom Italia store in Rome.
Photographer: Alessia Pierdomenico/BloombergThis article is for subscribers only.
Telecom Italia SpA rejected Italy’s bid of up to €750 million ($805 million) for its submarine cable unit Telecom Italia Sparkle SpA, dragging on the sale of a strategic asset for the government.
The company considers the government’s offer “unsatisfactory,” Telecom Italia said in a statement on Wednesday.