Telefonica may be preparing bid for Telecom Italia

Italian press reports have sparked fresh speculation that Telefonica is seeking to acquire all the shares of Telecom Italia, at a premium of up to 30%.
Italian daily Repubblica reported that Telefonica may be preparing an all-share bid for Telecom Italia, and setting up a holding company to conduct the takeover. Reuters said
And Spanish industry minister Miguel Sebastian contributed to the rumours, by stating that Italy should be open to Spanish investors.
Neither company has commented publicly on the matter.
Meanwhile, Dutch operator KPN has announced that it has acquired all the remaining shares in subsidiary Ortel Mobile for an undisclosed sum.
KPN acquired 65% of Ortel, which operates prepaid services in the Netherlands, Germany and Belgium, in March 2008.
The remaining shares will be acquired from Ortel's founders. Ortel's current CEO and president, Celal Oruç, will become honourary chairman of the company.

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