Telecom Italia shares fall 3.6%

Share in Telecom Italia fell by almost 3.8% in early trading Tuesday after Spain's Telefonica announced plans to sell its 8.3% stake in the Italian company to Vivendi SA.

  Telecom Italia shares dropped to 0.83 euro cents on news of the plan that would see Telefonica buy Vivendi SA's Brazilian Internet-provider unit GVT for 6.7 billion euros.

In the deal, Vivendi has been offered cash, shares in Telefonica's Brazil operations as well as the right to buy Telefonica's stake in Telecom Italia, ansa reports
Telecom Italia shares fall 3.6% Telecom Italia shares fall 3.6% Tuesday, August 05, 2014 Rating: 5
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