Featured Articles

Intel releases tiny 3G cell modem

Intel releases tiny 3G cell modem

Intel has released a 3G cellular modem with an integrated power amplifier that fits into a 300 mm2 footprint, claiming it…

More...
Braswell 14nm Atom slips to Q2 15

Braswell 14nm Atom slips to Q2 15

It's not all rosy in the house of Intel. It seems that upcoming Atom out-of-order cores might be giving this semiconductor…

More...
TSMC 16nm wafers coming in Q1 2015

TSMC 16nm wafers coming in Q1 2015

TSMC will start producing 16nm wafers in the first quarter of 2015. Sometime in the second quarter production should ramp up…

More...
Skylake-S LGA is 35W to 95W TDP part

Skylake-S LGA is 35W to 95W TDP part

Skylake-S is the ‘tock’ of the Haswell architecture and despite being delayed from the original plan, this desktop part is scheduled…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 17 September 2013 09:53

Crucial meeting for Telecom Italia scrapped

Written by Nick Farrell

Still has not got a clue

Telecom Italia has scrapped a crucial board meeting this week, as it buys time to try and figure out a new shareholder structure. For years the company has underperformed and has been crippled by debts. As a result the entire Italian telecoms infrastructure which rests on it has become increasingly out of date.

The meeting, initially set for September 19, was expected to discuss a proposal by Spanish telecoms operator Telefonica to buy out Telecom Italia's core domestic shareholders. So far TI has laughed off offers by Egyptian tycoon Naguib Sawiris and by Hong Kong-based conglomerate Hutchison Whampoa.

However Telecom Italia's management needs fresh cash to stave off a downgrade of its nearly $38.5 billion debt to "junk" status and back investments needed to counteract declining margins in its Italian home market.

Directors are expected to reconvene only on October 3, said two sources close to investors in Telco, the holding that controls Telecom Italia with a 22.4 percent stake. Telefonica is the biggest shareholder in Telco, which includes Italian banks Intesa Sanpaolo and Mediobanca, along with insurer Assicurazioni Generali.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments