Telecom Italia Deems Most Proposals in Elliott's Plan 'Not Feasible'

   By Marc Navarro Gonzalez 
 

Telecom Italia SpA (TIT.MI) said that most of the measures proposed by activist investor Elliott Management to reduce the telecommunications company's debt are "premature and not feasible."

The Italian company said that three of Elliott's proposals--deconsolidating Telecom Italia's fixed network, reducing its interest in Infrastrutture Wireless Italiane SpA (INW.MI), merging its Brazilian business with a local peer--would also "carry material financial and execution implications."

Telecom Italia made the comments in a document published on its website late Tuesday, adding that the best strategy to create value is to implement its current management plan.

The document was published after Italian market regulator Consob asked Telecom Italia to supplement the information that will be made available ahead of its shareholder meeting on April 24.

Read more about the imbroglio surrounding Telecom Italia at https://on.wsj.com/2JndT7q (WSJ paywall) or https://bit.ly/2IQx2gL (NewsPlus).

Write to Marc Navarro Gonzalez at [e-mail]

(END) Dow Jones Newswires

April 18, 2018 07:04 ET (11:04 GMT)

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