The rise of Niel at Telecom Italia’s capital is closely followed by the Italian authorities. Emmanuel Macron calm the game.
Two days after his surprise entry into the capital of Telecom Italia, the boss of Free increased its potential participation in Telecom Italia to the equivalent of 15.143% of the voting rights. According to the authority of the Italian financial markets, it is held through options and other positions.
The mystery remains on the initiative of Xavier Niel, located face to face with Vivendi in the capital of the Italian telecom operator. The French media group led by Vincent Bolloré is the leading shareholder of Telecom Italia, after having nibbled 20.3% stake.
The Italian government said it was following the situation closely, Telecom Italia is considered a sensitive society. “What is best for the country is that any changes among the shareholders (…) meets the objective, which is to build a company that industrially, like Telecom Italia, is strategic for the development of the telecommunications system of Italy” , said the secretary general of the government. Although it is not a direct shareholder of Telecom Italia, the Italian State can intervene if it considers that developments jeopardizes the public interest.
The Italian authorities Competition is also investigating the case. They asked Xavier Niel to communicate the Minutes of the meetings at which the entry into the capital of the operator has been approved. Xavier Niel must also provide all the necessary documents for assessing the possible existence of controlling shareholders. If so, a survey conducted jointly with European antitrust authorities could be opened to determine if there is agreement.
For his part, Emmanuel Macron has tried to calm things down. ” I understand that they are mounted to the capital, I do not see at this stage the hostile character, in any case it was not advertised as such, “he said, making sure not to have been contacted by the Italian Government on this issue.
No comments:
Post a Comment