Telecom Italia and Hutchison end talks over mobile merger
05 July 2013 |
Telecom Italia and Hutchison Whampoa have ended talks over a potential merger of their mobile operations.
In a statement on its website, Telecom Italia said that its board of directors “noted that at present there are not the elements necessary to start negotiations”.
3 Italia said in a separate statement that it wasn’t in a position to “obtain approval from its parent company for a transaction at this stage”.
Some sources have speculated that the talks stalled over disagreements about value.
The potential merger has been mooted since April, with Telecom Italia at the same time also pursuing plans to spin off its fixed-line business.
Earlier this week, the company reportedly held discussions with a Qatari funds group to sell a stake in its fixed-line business, which is said to be valued at €13 billion.
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