Telecom Italia Won't Consider Spinoff Of Core Networks -CEO

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Samedi 21 nov 2009 | 20:40:13

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Telecom Italia Won't Consider Spinoff Of Core Networks -CEO

ROME -(Dow Jones)- Telecom Italia SpA (TI) will never consider spinning off its core networks, including the fixed-line network that is seen as a key asset, Chief Executive Franco Bernabe said Wednesday, presenting the group's new business plan to analysts.
Bernabe comments came after a recent press report indicated the Italian phone group could consider a spinoff and a consequent sale of part, or all of its fixed-line network, to reduce its EUR35.77 billion debt.
The Telecom Italia CEO also ruled out plans for a capital increase.
The group's Chief Financial Officer Marco Patuano said, due to recent market evolution, the average cost of debt for 2009-2011 is expected to increase by about 50-75 basis points.
-By Giada Zampano, Dow Jones Newswires; 39 06 69766925; giada.zampano@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=DhiqXiPFgwaKAmv0bXc80w%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
December 03, 2008 05:06 ET (10:06 GMT)