No deal on Telecom Italia merger

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.

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