D. Telekom 'not planning bid' in Telecom Italia holding company

0 Comments | AFP, April, 2007

FRANKFURT (AFP) — German telecommunications giant Deutsche Telekom has no current plans to bid for an indirect stake in Telecom Italia that is up for sale, industry sources said on Wednesday.

The sources said that although Deutsche Telekom was interested in its Italian rival, no bid was planned for the time being.

Deutsche Telekom declined to comment.

Italian newspapers had reported earlier that Telekom might team up with Mediobanca and Assicurazioni Generali in a joint bid for a 66-percent stake in the Olimpia holding company, which owns a controlling stake in Telecom Italia.

Olimpia, a unit of the Italian group Pirelli, is also coveted by US telecom group ATT and its Mexican affiliate, America Movil.

Pirelli is in exclusive talks to sell...

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