Egyptian billionaire Naguib Sawiris said he is prepared to invest between $1 billion (€1.38 billion) and $2 billion in Telecom Italia if Telefónica withdrew from the company, and said the Italian company needed funds for future investments.
Telecom Italia's CEO Marco Patuano found that AT&T's CEO Randall Stephenson gave him the best advice on how to turn around his struggling company out of all the high-tech executives he met on a recent trip to the U.S., reports Bloomberg.
Telecom Italia CEO Marco Patuano has reportedly been so impressed by AT&T's ability to transform its business in recent years that he has sought advice from the U.S. company's CEO Randall Stephenson on how to change the fortunes of the struggling Italian operator.
Russian operator VimpelCom is considering a multi-step refinancing plan to improve the capital structure of its Italian telecoms unit Wind in a move that reports suggest could be a first step towards securing a merger for the company, which has debt of around $14.5 billion (€10.5 billion).
Italian insurance company Generali has said it could exit its holding in Telecom Italia as early as June, although experts suggest that its stake will not be acquired by Telefónica because of regulatory obstacles.
Telecom Italia said it will not pay shareholders a dividend for 2013, even though the Italian incumbent was able to cut its group net loss by €1 billion during the year.
Telecom Italia CEO Marco Patuano continued to stress that its Brazilian unit is an important asset for the company and said there are no discussions over selling the business.
Vodafone has joined other carriers in the Ubuntu Carrier Advisory Group, a consortium of mobile operators participating in technology discussions around the Linux-based operating system.
Portugal Telecom said its planned merger with Brazil's Oi will be completed in the second quarter and it does not expect any major obstacles from minority shareholders or regulators, according to CEO Henrique Granadeiro.
Telecom Italia appointed Aldo Minucci as its new chairman at its management board meeting on Thursday, filling a position that has been vacant since the resignation of former CEO and chairman Franco Bernabe last October.