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Telecom Italia says to explore tie-up with Hutchison Whampoa

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(Globalpost/GlobalPost)

Telecom Italia said Thursday it had set up a special committee to examine a merger with 3 Italia, a unit of Hong Kong conglomerate Hutchison Whampoa.

Hutchison Whampoa has indicated it is interested in becoming the leading shareholder in Telecom Italia, the former national phone company said following a board meeting.

The company suffered a net loss of 1.6 billion euros ($2 bn) in 2012.

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Telecom Italia

Hutchison Whampoa

http://www.globalpost.com/dispatch/news/afp/130411/telecom-italia-says-explore-tie-hutchison-whampoa