UPDATE 3-Telecom Italia weighs overseas options, bid talk swirls

viernes 26 de septiembre de 2014 17:17 GYT
 

* Board extends deadline on Argentina sale by one month

* Sawiris still interested in investing in Telecom Italia

* Italian official says met with U.S. businessman Trujillo

* Telecom director says cash injections are welcome (Adds Telecom Italia statement, source at Argentina regulator)

By Alberto Sisto and Paolo Biondi

ROME, Sept 26 (Reuters) - Renewed signs of foreign bid interest in Telecom Italia emerged on Friday just as its board met to discuss the company's options after after failing to expand in Brazil and hitting setbacks in its attempt to exit from Argentina.

At the top of the meeting's formal agenda was the sale of its controlling stake in Telecom Argentina to investment company Fintech, a $960 million deal the Italian group agreed nearly a year ago which has been thrown into question because it has not yet been cleared by regulators.

Telecom Italia said after a 7-hour board meeting on Friday that it had extended a deadline to complete the deal by another month, to Oct. 24, and that its management would negotiate with Fintech changes to the initial agreement so as to buy more time in the face of regulatory uncertainty.

However, the bigger issue at Telecom Italia is how the company contends with the increasing pace of industry consolidation as telecom companies seek to bring together fixed and mobile services, both in Europe and in Brazil, where it controls the country's second-biggest mobile operator, TIM Participacoes.   Continuación...