Telecom Italia shares fall more than 4 percent

Reuters News
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Posted: May 31, 2013 7:43 AM
Telecom Italia shares fall more than 4 percent

MILAN (Reuters) - Shares in Telecom Italia fell more than 4 percent on Friday after being briefly halted from trading, a day after the company took the first step to spin off its fixed-line network.

The Italian phone company said it would discuss a possible tie-up with Hutchison Whampoa's Italian mobile phone unit, 3 Italia, at a board meeting due to take place on June 5.

"The focus is now on what the board will decide regarding the tie-up with Hutchison," said an analyst in Milan, adding there was great uncertainty on the outlook for the company.

(Reporting By Giancarlo Navach)