Telecom Italia Told to Expect Government Intervention
October 17 2017 - 3:11AM
Dow Jones News
By Sonia Amaral Rohter
Telecom Italia SpA (TIT.MI) said Monday that it had received
notification from the Italian government that it intends to
exercise authority over certain aspects of Telecom Italia's
business.
Known as "Golden Power," the measure gives the government
special powers to intervene in the affairs of companies in security
and national defense sectors.
The move follows government concerns about French media
conglomerate Vivendi SA's (VIV.FR) stake in Telecom Italia. In
September, Italy's securities market regulator Consob ruled that
Vivendi had de-facto control over Telecom Italia. Vivendi contested
the ruling.
Telecom Italia says that it is "examining the measure" and has
90 days to comply with the requirements set forth.
Write to Sonia Amaral Rohter at
sonia.amaralrohter@dowjones.com
(END) Dow Jones Newswires
October 17, 2017 02:56 ET (06:56 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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