Intesa Sanpaolo CEO confirms plans to exit Telecom Italia investment
MILAN Oct 15 (Reuters) - Intesa Sanpaolo confirmed it plans to exit its seven-year investment in Telecom Italia , the bank's CEO Carlo Messina said on Wednesday on the sidelines of an event.
Speaking to reporters, Messina said the Italian bank has had no contact with Vivendi Chairman Vincent Bollore about forming a pact to control Telecom Italia.
Vivendi has agreed to take a stake in Telecom Italia as part of a deal to sell a Brazilian broadband company to Spain's Telefonica.
Intesa Sanpaolo still has an indirect stake of 1.6 percent in Telecom Italia and has previously said it would sell it by 2017 to focus on its core banking business. (Reporting by Gianluca Semeraro, writing by Danilo Masoni; editing by Oleg Vukmanovic)
© Thomson Reuters 2016 All rights reserved.