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Telefonica chairman opens door to Telecom Italia exit
September 1, 2014 / 11:07 AM / 3 years ago

Telefonica chairman opens door to Telecom Italia exit

SANTANDER, Spain, Sept 1 (Reuters) - Spain’s Telefonica does not want to remain a shareholder of Telecom Italia once it finalises its purchase of Vivendi’s Brazilian broadband unit GVT, Chairman Cesar Alierta said on Monday.

Telefonica has already taken steps to sell down part of its 14.8 percent stake in Telecom Italia, which it owns through holding company Telco.

Alierta also said Telefonica could use treasury stock to partially finance the GVT acquisition.

Reporting by Andres Gonzalez, Writing by Tracy Rucinski

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