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Consob, financial police visit Telecom Italia offices

Inspectors concerned with major financial moves by firm

13 November, 15:42
Consob, financial police visit Telecom Italia offices (ANSA) - Rome, November 13 - Finance police and officials from market regular Consob inspected Telecom Italia offices in Rome and Milan on Wednesday, days after a series of significant financial decisions by the company.

Inspectors were following up on a major meeting last Thursday of the board of directors of Telecom Italia, including a decision to sell its unit in Argentina and the possible issuance of a bond worth about four billion euros.

Some investors are concerned with Telecom Italia's plans, which the company says are designed to avoid a credit-rating downgrade.

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