September 17, 2024 06:17 GMT
COMMUNICATIONS: Reports Of A 10% Stake Purcchase In Telecom Italia Saving Shares
COMMUNICATIONS
Ba2/[P]/BB/BB
A supporter of M&A at other institutions though the lack of voting rights here limits potential influence.
• RTRS/BBG reporting that Davide Leone & Partners acquired ~10% of Telecom Italia's savings shares, which don’t guarantee voting rights but allow profit participation.
• Leone also holds a 5.5% indirect stake in Banco BPM as per a regulatory filing this month and has previously expressed support M&A strategies for the bank.
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