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Telecom Italia raises cap on TI Capital notes buyback
May 30, 2013 / 11:59 AM / 5 years ago

Telecom Italia raises cap on TI Capital notes buyback

MILAN, May 30 (Reuters) - Telecom Italia said on Thursday it had increased the maximum amount of a buyback it is carrying out on a series of dollar-denominated bonds.

In a statement the Italian telecoms group said that at 1700 New York time on May 29 it had received tenders on the bonds to the tune of $1.986 billion.

It had decided therefore to increase the cap on the buyback to $1.577 billion from a previous cap of $750 million, it said.

The buyback on the Telecom Italia Capital notes was on the U.S. market. (Reporting By Stephen Jewkes, editing by Danilo Masoni)

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