TIM, GVT merger not on Telecom Italia's agenda for now - CEO

Reuters

SAO PAULO, July 23 (Reuters) - Telecom Italia SpA does not rule out combining its Brazilian unit with a local rival but that possibility is not on its agenda for now, Chief Executive Officer Marco Patuano said on Wednesday.

Patuano said speculation over a potential tie-up between TIM Participações SA, Telecom Italia's mobile carrier in Brazil, and GVT SA is "running high these days." Yet he said that Telecom Italia, as well as its shareholders, are basically focused on executing TIM's business plan.

(Reporting by Leonardo Goy; Writing by Guillermo Parra-Bernal; Editing by Jeffrey Benkoe; ==)

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