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Telecom Italia to comply fully with government golden power requests - CEO
November 22, 2017 / 1:29 PM / 24 days ago

Telecom Italia to comply fully with government golden power requests - CEO

TURIN, Italy (Reuters) - Telecom Italia intends to comply fully with the requests made by the Italian government under special powers that allow it to protect the former state telephone monopoly as a strategic asset, the group’s CEO said on Wednesday.

Telecom Italia CEO Amos Genish smiles during a debate at the RAI state television headquarters in Rome, Italy November 10, 2017. REUTERS/Remo Casilli

Asked whether the company would appeal Rome’s exercise of the so-called ‘golden powers’ imposed last month, Amos Genish said it would collaborate fully with the government.

The golden powers enable Rome to veto certain actions, including asset sales, mergers and any change of control of companies regarded as being of strategic national importance.

Telecom Italia’s main shareholder is French media giant Vivendi.

Reporting by Agnieszka Flak, writing by Stephen Jewkes, editing by Francesca Landini

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