MILAN (Thomson Financial) - Telecom Italia SpA's chief executive Franco
Bernabe is expected to propose the spin-off of the group's fixed line network,
a move that could be opposed by its largest shareholder, Telefonica SA, the
daily La Repubblica said without giving a source.
The proposal is expected to be discussed at a board meeting scheduled Sept.
25, it added.
Bernabe also intends to sell stakes in the spun off business to
institutional investors, it said.
The CEO has also met over the summer foreign investors, especially Arab
sovereign funds, to convince them to buy stakes in Telecom Italia, which is
trading near 10-year lows, according to the daily.
philip.webster@thomsonreuters.com
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