TI-Olivetti: happily engaged
The proposed Telecom Italia-Olivetti merger has led to mixed reactions, from investors as well as rating agencies. Concerns focus on minority shareholder resistance and the substantial re-leveraging involved
In the middle of last month, the boards of Telecom Italia and Olivetti approved the merger of the two telecom companies on unchanged terms from those presented when the deal was first announced. This was despite reports that a group of minority shareholders are looking to postpone the approval decision so they can obtain a renegotiation of the terms of the merger.
Nevertheless, this positive step from both boards seems to signal that management is very keen to conclude the merger
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