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Spain/Italy: Telefonica may add to EU telco earthquake

By  |  September 11, 2013

Spain’s wireless giant Telefonica is considering a buyout of Telecom Italia so long as Telefonica does not accumulate more debt, a source told reporters Wednesday. If true, the transaction would be yet another addition towards a consolidated telco market throughout the EU. The report comes as EU telco chief Neelie Kroes plans to present industry overhaul policies on Thursday.

Reports cite analysts as predicting Telefonica may swap shares or even divest assets to afford the buyout.

Telefonica is scheduled to hold a shareholder meeting on September 19.

Full Content: Reuters

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