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Telecom Italia: will dispute Consob's decision.

( - Telecom Italia said yesterday that its board of directors had thoroughly considered the Italian financial regulator, Consob's decision, which recently decided that Vivendi, its largest shareholder, was exercising "de facto control" over the Italian telecom operator.

Vivendi has announced that it would appeal against this decision.
Telecom Italia intends to do the same: its board of directors has decided, by a majority of its members, to challenge this decision in court, "as had already been announced".

"Gossip mongerers will say that this is more proof that Vivendi actually controls Telecom Italia..." Aurel BGC analysts lamented this morning. "The Italian government must decide on this issue in the next few days," they added.

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