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State lender could buy stake in Telecom Italia to counter Bollore - report
December 23, 2016 / 7:28 AM / 9 months ago

State lender could buy stake in Telecom Italia to counter Bollore - report

MILAN, Dec 23 (Reuters) - The Italian government is considering a plan for state lender Cassa Depositi e Prestiti (CDP) to buy a stake in Telecom Italia to counter the ambitions of French businessman Vincent Bollore, La Stampa daily said on Friday.

* CDP could invest around 2.5 billion euros ($2.61 billion) to build a stake in Telecom Italia on a par with the 24 percent owned by Vivendi, led by Bollore, the paper said

* Bollore is speeding up a plan to sell Telecom Italia to France’s Orange, the paper said citing sources close to Bollore

* The Italian government’s move is also aimed at tempering Bollore’s ambitions on Italian TV broadcaster Mediaset and Italy’s No 1 insurer Generali, it said ($1 = 0.9574 euros) (Reporting by Stephen Jewkes; Editing by Adrian Croft)

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