Telecom Italia: state holding company to raise stake

(CercleFinance.com) - Italian state holding company Cassa Depositi e Prestiti (CDP) said on Friday that it will strengthen its stake in Telecom Italia, in a "long term perspective".


The decision is consistent "with the institutional mission of CDP in supporting the national strategic infrastructures and also aims at supporting the development and value creation process started by the company in a sector of primary interest for the country," it said.

For the record, Telecom Italia already holds 5% of Telecom Italia's capital.

The CDP also holds 50% of Enel Open Fiber's shares, analysts at Oddo BHF pointed out this morning.

"Several rumors of press reported a willingness on the part of the CDP to merge the two networks," the Parisian broker noted.

Driven by these speculations, the Telecom Italia share jumped nearly 6% on the Milan Stock Exchange this morning.

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