Telecom Italia's minority investors association Asati has sent a letter to the Italian government and parliament to express its concern about the widely reported possibility of a merger between the Italian operator and French telecommunications group Orange. Asati set out a series of doubts after Italian prime minister Matteo Renzi commented that any foreign investors with resources and ambition were welcome to enter the Italian market. However, Asati said any such transaction would be an acquisition by Orange, rather than a merger, because the French company’s capitalisation is double that of Telecom Italia.
In addition, Asati was keen to point out that Orange is 23 percent owned by the French state, which would have security implications. "The security of information sent across both national and international borders via TI Sparkle… is an aspect of great importance,” said Asati, adding that “France and Italy are well aware at this time of the value to a country of ensuring the security of sensitive information."
Asati also pointed out that any tie-up between Orange and Telecom Italia could have serious implications for the Italian operator's business and employment plans, and affect the government’s project to build a national broadband network. “We do not see how [Telecom Italia's business plan] would in any way benefit from this merger. What are the new ideas and new investments that Orange would bring to Italy?" said Asati.
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