Telecom Italia says no information so far from BlackRock

Reuters

MILAN, Dec 16 (Reuters) - Telecom Italia said on Monday it had not received any information from U.S. money manager BlackRock regarding an increase in its stake in the Italian telecoms group to 10.14 percent, as shown by U.S. regulatory filings.

The phone company said it had asked for clarifications, including by submitting a formal request on Dec. 14, but had received no answer so far.

Telecom Italia said BlackRock had not submitted as of Dec. 13 any communications that would entitle it to vote at a shareholder meeting on Dec. 20, but added there was still time to do so until before the start of the meeting.

If confirmed, the 10.1 stake would make BlackRock the second biggest shareholder in Telecom Italia after holding company Telco, and give it a potentially pivotal role in Friday's shareholder vote on whether to oust the board of the Italian company.

View Comments (0)