Telco Holders:Sintonia Exit To Be Possibly Completed By End Nov
October 28 2009 - 2:26PM
Dow Jones News
Shareholders in Telco, the holding company that controls Telecom
Italia SpA (TI), confirmed Wednesday that Benetton's (BEN.MI)
Sintonia SA will leave the pact, adding that its exit will possibly
be completed by the end of November.
Telefonica is the biggest shareholder in Telco, along with
Insurer Assicurazioni Generali SpA (G.MI) and banks' Intesa
Sanpaolo (ISP.MI) and Mediobanca SpA (MB.MI).
In a joint statement, Telco's remaining shareholders confirmed
the pact was renewed for another three years, until April 2013.
They added, however, that the new pact will give shareholders a
right of early withdrawal, that can be exercised in April 2011.
--Giada Zampano, Dow Jones Newswires; +39 06 69766920;
giada.zampano@dowjones.com