October 13, 2017 / 12:09 PM / 8 months ago

Italy likely to discuss use of 'golden power' over Telecom Italia on Monday: government source

ROME (Reuters) - Italy’s Cabinet is likely to discuss on Monday the use of its so-called “golden power” that allows it to intervene to protect strategic companies, a government source said on Friday, amid concern over ownership of Telecom Italia.

FILE PHOTO: FILE PHOTO: Telecom Italia logo is seen at the headquarters in Milan, Italy, May 25, 2016. REUTERS/Stefano Rellandini/File Photo/File Photo

The discussion is likely to center on Telecom’s Sparkle unit that controls its submarine cable network, the source said.

French media group Vivendi’s became Telecom’s top investor with a 24 percent stake last year, but it denies controlling the company.

In a related move, the government passed a decree on Friday that will regulate the use of the “golden power” in the future, the source said.

Reporting by Francesca Piscioneri, writing by Steve Scherer, editing by Valentina Za

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