Maintaining the status quo at Telco, with a possible increase in Telefonica’s stake by buying from Italian partners, is the worst solution for Telecom Italia, its employees, for more than 70 percent of its shareholders and for Italy. So says Asati, the association of small shareholders of Telecom Italia. In a letter addressed to the Prime Minister, the President of the Senate, the President of the Chamber, the Transportation Committee and the President of CDP, Asati argues that if this decision was endorsed by the next meeting of the board of directors on 03 October, it would only benefit Telefonica.
Asati proposes a capital increase of a minimum of EUR 3 billion, reserved for state lender Cassa Depositi e Prestiti (CDP). Asati also appealed to the government and the authorities to authorise CDP to take a direct stake in Telecom Italia, which is in the interest not only of the company and its 50,000 employees, but foremost of the country.
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