January 26, 2018 / 9:36 AM / 7 months ago

Telecom Italia chairman says appeal to Italy's president was "technical move"

MILAN (Reuters) - An appeal to Italy’s head of state filed by Telecom Italia (TIM) (TLIT.MI) pending the government’s decision on how to apply the powers it has over companies of strategic relevance is only a “technical move”, the phone group’s chairman said on Friday.

A Telecom Italia's control unit for fiber optics is seen in Perugia, Italy, June 23, 2017. Picture taken June 23, 2017. REUTERS/Alessandro Bianchi

Sources said on Thursday TIM would file an appeal to Italy’s president against the “golden power” decree, which could give the government a veto over actions such as mergers or selling assets deemed to be of national importance.

Confirming what a source close to the company told Reuters on Thursday, TIM Chairman Arnaud de Puyfontaine told reporters the appeal was presented only for “technical reasons” adding that the relationship with Italy’s government was “very good.”

TIM has presented the government proposals over how the decree could be implemented and is awaiting an answer.

Reporting by Alberto Sisto, writing by Valentina Za

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