Telecom Italia CEO Says Grid Deal Frees Firm for Future M&A
- Slashing debt sets carrier up for consolidation, CEO says
- Labriola speaks on Bloomberg’s new Italian-language podcast
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Telecom Italia SpA will be ready for new deals after it completes its landmark €22 billion ($23.8 billion) network selloff, a move aimed at freeing the carrier from billions of euros in debt.
Slashing the debt pile will allow the company to “play an active role in Italy’s market consolidation process which will certainly take place in the coming years,” Chief Executive Officer Pietro Labriola said in an interview for Bloomberg’s Italian-language podcast, Quello Che i Soldi Non Dicono.