TS News - Italy's STET And Telecom To Merge

TELE-satellit News, 3 February 1997

Italy's STET And Telecom To Merge
  ROME, Italy, 97/02/03 (TS) -- On Friday, January 24th, the Italian
government announced that the national telecommunications operator Telecom
Italia was to merge with Stet, its holding company in charge of telephony.
The new company will retain the name Telecom Italia, but two new managers
will be in charge - Guido Rossi and Tomaso Tommasi di Vignano.

  Telecom Italia will be quoted on the world markets, notably in Milan and
on Wall Street. It is expected that this merger (which will be operative in
a few months) will ease the way towards the full privatization of this
telecommunications giant. This decision which was anticipated last November
was partly due to pressure from potential investors from Italy and the
world and institutional pressure from Brussels in the person of the UE
commisioner Karel van Miert who is in charge of monopolies and mergers.
Telecom Italia is in fact the owner of Italy's only satellite
communications operator, Nuova Telespazio.

  By: Branislav Pekic

(c)TELE-satellit 1997. All rights reserved.

[Other mailing list archives]