Telecom Italia eyes growth in Argentina - report

Telecom Italia could improve margins by consolidating its stake in Telecom Argentina, reports Italian daily 'La Repubblica'. The paper points out that Telecom Italia will have to find a way to pick up the margins – in Italy this will not happen, but in South America growth is possible. The daily adds that if the president of Telecom Italia, Franco Bernabe, manages to gain 30 percent of Telecom Argentina, in which it indirectly owns 22.6 percent, the game would be done. According to S&P's, reaching that threshold, Telecom Italia could consolidate the EUR 1 billion from Argentina, by investing less than EUR 300 million.