Telecom Italia CEO dampens speculation on Oi bid
Marco Patuano, the CEO of Telecom Italia (TI), has dampened speculation that it might pursue a merger between Oi, the Brazilian telco, and Tim Brasil, TI's mobile phone subsidiary, Il Sole 24 Ore reported. The report cited Patuano as saying that the turbulent economic situation pointed to focusing on investing into Tim Brasil.
The item cited Patuano as saying that acquiring Oi would be difficult from a corporate governance point of view.
The report noted that TI's shares fell 2.32% following Patuano's comments on speculation that any merger plans had been put on hold for the present.
Il Sole 24 Ore