The Italian Government says reports it has approved a merger of Telecom Italia with Telefonica are false.
A statement issued in response to a story in Italian newspaper la Republica, denies the government held any talks with the two telcos regarding an all-share offer from Telefonica, the Wall Street Journal reports.
La Republica claimed the government was set to approve the buyout on condition Telecom Italia’s fixed-line business remain under Italian control.
Italy’s Industry minister Claudio Scojola has now scheduled a meeting with Franco Bernabe, chief executive of Telecom Italia, tomorrow (Feb 4) to discuss the matter.