Business Services Industry
Bid for Italian Telecom Firm May Trigger Wave of Mega-Deals.
Knight Ridder/Tribune Business News, June, 1999 by Daily Mail, London
Knight Ridder/Tribune Business News
Jun. 12 -- On the face of it, the integration of Europe is a shambles. The Kosovo war showed the political strains, the plummeting euro shows the dismal degree of economic convergence and the equally dismal failure of the Continent's politicians to agree on anything, even on keeping their mouths shut.
In the fusty boardrooms of Europe's sleepier companies, though, a faint breeze is rustling the piles of paper and threatening to wake directors from their slumbers. The successful bid for Telecom Italia -- Rome's equivalent of BT -- by Olivetti is responsible for this modicum of fresh air.
TI richly deserved to be taken out -- it was an old monopoly with a dash of bureaucracy on top. The significance of...
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