Telefonica CEO promises to invest in Italian jobs, networks
Premier Letta meets with Spanish telecom boss on future of TIM29 October, 17:26
Following a meeting with Italian Premier Enrico Letta, Cesar Alierta said that he has also committed to maintain investments in fiber-optic and fourth-generation mobile networks for Telecom Italia. "Telecom Italia will remain an Italian company," Alierta told reporters outside the meeting. In September, Telefonica reached a deal to gradually take over Telco SpA, the investment vehicle that controls Telecom Italia through a 22.4% stake and is owned by Telefonica and Italian financial interests.
Many Italian politicians and unions are concerned by the Spanish company's plan for growing control over Telecom Italia, particularly its plans for employment and national security.
On the Milan stock exchange, Telecom Italia shares rose by 5.59% in trading.