Telecom Italia S.p.A. (0H6I.IL)
- Reuters
Court cancels Telecom Italia 250 million euro seizure over alleged phone scams
A Milan court has cancelled the seizure of 250 million euros ($268 million) from Telecom Italia (TIM) previously ordered by prosecutors in a case over alleged fraud through the unauthorised activation of services to customers, a court document showed. The document showed TIM had successfully appealed against the order of a precautionary seizure after a hearing held on April 23, adding the reasoning behind the ruling will be filed within 30 days. The initial seizure order was made in late February.
- Reuters
Exclusive-EU concerned about KKR, Telecom Italia deal impact on wholesale competition, sources say
European Union antitrust regulators are asking rivals and customers whether proposed acquisition of Telecom Italia's (TIM) fixed-line access network by U.S. investment firm KKR could hamper Italy's wholesale market, people familiar with the matter said on Tuesday. Such regulatory worries could lead to a lengthy investigation of the deal and put pressure on KKR to offer significant remedies. KKR is buying TIM's domestic network for up to 22 billion euros ($23.5 billion) in a deal that would make the Italian telecoms group the first in a major European country to divest its landline grid.
- Reuters
UPDATE 1-Healthcare, tech stocks boost STOXX 600 to one-week high
European stocks scaled to their highest levels in more than a week on Tuesday, driven by the healthcare and technology sector, as investors found comfort in upbeat corporate earnings, while the UK's FTSE 100 Index climbed to hit an all-time peak. The pan-European STOXX 600 index was up 0.6%, as of 0838 GMT, boosted by a nearly 0.9% jump in healthcare stocks .
