Telecom Italia Plunges After Iliad Confirms End to Deal Talks

Telecom Italia SpA shares plunged the most in almost a year and a half after French rival Iliad SA said it won’t pursue a tie up with the Italian phone carrier.

Iliad’s Chief Executive Officer Thomas Reynaud confirmed that talks with Telecom Italia were concluded earlier this year and won’t be reinstated as the French group shifts its focus to acquisitions in its domestic market.