Egyptian businessman Naguib Sawiris would like to see a change
of management at Telecom Italia SpA (TIT.MI) in return for his
investment in the Italian telecommunications company, according to
an interview in French daily Le figaro published Tuesday.
"I have simply set as condition the possibility to change
management," Mr. Sawiris told the paper. "With our experience, a
capital increase and maybe a realignment of management, Telecom
Italia can really kick off again," he said.
Telecom Italia said Monday that Sawiris has expressed interest
in investing in Telecom Italia through underwriting of new stock
issuing and that the company is now evaluating this offer.
In the interview, Mr. Sawiris also said he is still interested
in entering the French telecoms market and is keeping a close eye
on developments in the country. "If there is an opportunity in
France, I am there. But unfortunately only French investors are
wanted in France. It's the only country where the four main
operators are franco-French. A poor Egyptian like me has no
chance," he said.
Newspaper website: http://www.lefigaro.fr
Write to Ruth Bender at ruth.bender@dowjones.com
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