January 29, 2018 / 10:39 AM / 8 months ago

Italy will not wait until elections to decide on potential Telecom Italia fine - minister

FLORENCE, Italy (Reuters) - Italy Industry Minister Carlo Calenda said on Monday that a decision on a possible fine against Telecom Italia (TIM) (TLIT.MI) over golden power ruling infringement will be taken before the March 4 vote.

FILE PHOTO - A Telecom Italia tower is pictured in Rome, Italy March 22, 2016. REUTERS/Stefano Rellandini/File Photo

Speaking to journalists on the sidelines of a meeting in Florence, the minister said that if it’s decided that there is a need for a fine, one would be applied “because we are a country that wants rules to be respected”.

“The situation will be made clear before the vote. We don’t wait until the election to do things,” Calenda said.

Italy has launched a process that could end with TIM being fined for failing to notify Rome that French media group Vivendi (VIV.PA), TIM’s top shareholder with a 24 percent stake, had assumed de facto control of the phone company.

Reporting by Silvia Ognibene, writing by Elisa Anzolin, editing by Agnieszka Flak

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