This story is building up some steam. AT&T want to buy one-third of the holding company Olimpia, which holds 18% of Telecom Italia.
So if I’m right, that’s 6% of Telecom Italia for $3.5billion, which therefore values Telecom Italia at $58billion.
My view is that Italy is still one of the smaller markets in Europe, but this may be the foot hold in Europe that the American Giant is looking for. what next stakes in other national incumbents?
Aggressive buying is still on the agenda for the SBC guys then and the purchase of Ma Bell obviously only slowed them for a short while.