Naguib Sawiris Cut Telecom Italia Short Position This Week
2014-08-07 15:12:33.252 GMT
By Sam Chambers
Aug. 7 (Bloomberg) -- Regulatory filings show Naguib
Sawiris’s Orascom TMT Investments cut its short position in
Telecom Italia by 23% to 134m shrs this week, equivalent to 1%
of co’s shrs outstanding.
* Sawiris still holds the largest short position in TI.
Details here
* In Jan, Sawiris told Bloomberg News he was prepared to
invest in TI if Telefonica sold its stake and co. didn’t
sell its Brazilian unit
* Sawiris is chairman of Orascom TMT Investments, which is
a telco/tech investor and strategic shareholder
* Telecom Italia shrs jumped as much as 2.7% this afternoon
after Bloomberg reported TI said to have approached Vivendi
over an alliance in which VIV may acquire stake in co.
* Aug 5: Telefonica offered $9b for Vivendi’s GVT unit; said
it may offer TI shrs to Vivendi as part of the deal
* NOTE: Telecom Italia shareholders here
For Related News and Information:
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First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net
2014-08-07 15:12:33.252 GMT
By Sam Chambers
Aug. 7 (Bloomberg) -- Regulatory filings show Naguib
Sawiris’s Orascom TMT Investments cut its short position in
Telecom Italia by 23% to 134m shrs this week, equivalent to 1%
of co’s shrs outstanding.
* Sawiris still holds the largest short position in TI.
Details here
* In Jan, Sawiris told Bloomberg News he was prepared to
invest in TI if Telefonica sold its stake and co. didn’t
sell its Brazilian unit
* Sawiris is chairman of Orascom TMT Investments, which is
a telco/tech investor and strategic shareholder
* Telecom Italia shrs jumped as much as 2.7% this afternoon
after Bloomberg reported TI said to have approached Vivendi
over an alliance in which VIV may acquire stake in co.
* Aug 5: Telefonica offered $9b for Vivendi’s GVT unit; said
it may offer TI shrs to Vivendi as part of the deal
* NOTE: Telecom Italia shareholders here
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
To contact the reporter on this story:
Sam Chambers in London at +44-20-7673-2021 or
schambers7@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net