Telecom Italia says regulatory issues impact feasibility of spin-off

Telecom Italia announced yesterday its board of directors examined the impact of recent decisions taken by Italian Communications Authority, or AGCOM, regarding the access network spin-off plan approved on May 30. The company stated, "While reiterating the importance of the plan for both Telecom Italia and the development of the country's telecommunication system, the Board acknowledged that the uncertainties introduced by recent decisions taken by AGCOM might affect its feasibility. It therefore resolved that, before proceeding with further stages of implementation of this plan, the consistency of its content and the regulatory path with the underlying assumptions of the plan must be verified."