Saturday, 03 December 2016

Sawiris ready to invest $2bn in Telecom Italia if Telefonica exits

By Mary Lennighan, Total Telecom
Monday 14 April 14

Egyptian businessman is waiting for Spanish incumbent to make a decision on its own future before making a move for Italian operator.

Egyptian businessman Naguib Sawiris is poised to make a substantial investment in Telecom Italia in the event that current majority shareholder Telefonica were to exit the company. In an interview with Italian financial publication Il Sole 24 Ore, Sawiris said he would be prepared to plough up to $2 billion into the indebted operator and once again questioned the wisdom of Telefonica's presence in its shareholder structure…

Egyptian businessman Naguib Sawiris is poised to make a substantial investment in Telecom Italia in the event that current majority shareholder Telefonica were to exit the company. In an interview with Italian financial publication Il Sole 24 Ore, Sawiris said he would be prepared to plough up to $2 billion into the indebted operator and once again questioned the wisdom of Telefonica's presence in its shareholder structure…

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