Telecom Italia shares rise following Hutchison tie-up rumours

Telecom Italia shares rose by more than 4% in early morning trading after rumours emerged this week of a possible tie-up with Hutchison Whampoa.

The company is also reportedly interested in spinning off its fixed-line domestic network.

It has now appointed a panel of board directors to discuss a deal with Hutchison, which would make the Hong Kong-based operator the largest shareholder in Telecom Italia if it went through.

Telecom Italia said it is also considering the feasibility of no longer operating as a fixed network, but made no direct link between this and the Hutchison rumours.

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