Italy: Telecom Italia eyes settlement to stop €4 billion antitrust claims

Telecom Italia is considering the possibility of settling separate antitrust disputes with rivals to stop damage claims for around 4 billion euros, two sources close to the matter told Reuters on Wednesday.

Mobile phone giant Vodafone sued the former Italian phone monopoly two years ago for abusing its dominant position in its home market, seeking over 1 billion euros in damages.

Other telecoms firms have also sued Telecom Italia on competition grounds in recent years. Swisscom’s Italian broadband unit Fastweb is seeking damages of 1.74 billion euros, internet firm Tiscali is seeking 285 million, while small telecoms firms Eutelia, Voiceplus and Teleunit are seeking a combined sum of nearly 1.1 billion.

The sources gave no indication on the status of any potential talks. A settlement, if reached, would allow the parties to bypass long judicial proceedings.

Telecom Italia is expected to make provisions for at least 300 million euros to cover risks connected to the lawsuits.

Full content: Bloomberg

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