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Middle East investors interested in 3 Italia -paper

Sat Jun 27, 2009 3:12pm IST
 
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MILAN, June 27 (Reuters) - Hutchison Whampoa (0013.HK: Quote, Profile, Research) unit 3 Italia is in talks with interested investors from the Middle East, the Italian operator's Chief Executive Vincenzo Novari said in a newspaper interview published on Saturday.

"If a few months ago we were ready to evaluate different solutions, today it is no longer the case," Novari told daily Corriere della Sera.

"In fact, there are ongoing talks with investors from the Middle East and companies in the Arab world who want to enter into the shareholding."

In November Novari said 3 Italia, which operates a 3G mobile phone network, had held talks with Telecom Italia (TLIT.MI: Quote, Profile, Research) on a merger but they could not agree on price.

3 Italia has also previously denied a report that it could be broken up between other operators in the country.

Novari also said 3 Italia was looking to close next year with a "positive" operating profit, or earnings before interest and tax. (Editing by Sue Thomas)

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