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Italy Cabinet exercises 'golden power' to protect TIM - PM Gentiloni
October 16, 2017 / 2:01 PM / a month ago

Italy Cabinet exercises 'golden power' to protect TIM - PM Gentiloni

ROME, Oct 16 (Reuters) - Italian Prime Minister Paolo Gentiloni said on Monday he had approved the exercise of the so-called “golden power” to protect former state telephone monopoly Telecom Italia (TIM) as an asset of strategic national importance.

Without giving any details, Gentiloni said that he had signed a decree activating the golden power after French media group Vivendi became TIM’s top investor with a 24 percent stake last year.

Vivendi denies having control of TIM. (Reporting by Giuseppe Fonte, writing by Steve Scherer)

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