Italy: Telecom Italia shareholders back out

After seven years, Assicurazioni Generali and Mediobanca are reportedly planning to exit their holdings of Italian telco giant Telecom Italia, a move reports say could open doors to new investments in the firm.

Generali is reportedly looking to divest its 19 percent stake in Telco, the investment vehicle that holds a 22.4 percent stake in Telecom Italia. Meanwhile, Mediobanca is reportedly planning to do the same with its 7.3 percent stake in Telco.

Generali confirmed the news, while Mediobanca did not.

Reports say the companies have repeatedly lessened their hold on Telecom Italia amid heightened competition and slow earnings.

Full content: Bloomberg

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.