AT&T withdraws offer for Telecom Italia stake - sources UPDATE |
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Published
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Mon, 16 Apr 2007 18:55
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(Updates to say ANSA has reported Olimpia has also said AT&T has pulled out)MILAN (Thomson Financial) - AT&T has withdrawn its offer to acquire a one third stake in Pirelli & C SpA unit Olimpia SpA, which owns 18 pct of Telecom Italia SpA, according to sources close to the operation.AT&T and America Movil are in exclusive talks until April 30 with Pirelli to each acquire a one third stake in Olimpia. Recent reports say that Italian banks are also interested in Olimpia stakes.The sources confirmed a report in the Wall Street Journal Online on AT&T's withdrawal, without giving any reasons for the decision.A Radiocor report said Olimpia is scheduled to make a statement this evening.Pirelli was not immediately available for comment.Italian news agency ANSA reported that Olimpia had confirmed that AT&T has pulled out.nigel.tutt@thomson.comnt/rfw/jsaCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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