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General

TIM unlikely to convert savings shares in short term-report

Thursday 17 September 2015 | 08:57 CET | News
Telecom Italia (TIM) is unlikely to proceed with the conversion of around EUR 5.5 billion worth of savings shares into common stock until the price gap between the two types of shares widens from current levels, according to three unnamed sources cited by Reuters. The operator was due to discuss the possible conversion in the second half of 2015 but two of the sources suggested Telecom Italia would only convert the savings shares when the price gap between the two classes of shares rises to at least 20 percent from the current spread of around 15 percent. Another source added that he expected

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Categories: General
Companies: Telecom Italia / TIM / Vivendi
Countries: Italy
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