Telefonica to assure it wont manage Telecom Italia's Sth American ops - report |
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Published
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Sun, 14 Oct 2007 20:53
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MILAN (Thomson Financial) - Telefonica SA is ready to give written guarantees that it will not be involved in the management of Telecom Italia SpA's South American operations to obtain regulator clearance in the region, the daily Il Sole 24 Ore said without giving a source.Telefonica is due to buy a controlling stake in Telecom Italia with a group of Italian investors but the operation still has to be cleared by Brazil and Argentina's regulators.Telefonica jointly owns with Portugal Telecom Brazil's largest mobile phone operator, Vivo, while Telecom Italia owns TIM Brasil, the country's second largest mobile company.The two groups are also present in Argentina.philip.webster@thomson.compw/jagCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Brazil's Anatel expected to discuss Telco takeover of Telecom Italia on Oct 17 