Telecom giant wants inroad into Italian telecom market
According to a Reuters article, AT&T is considering partners as it tries to make a move on Telecom Italia.
AT&T is one of a small handful of players in exclusive talks to buy a majority stake in Olimpia, a holding company that has an 18% stake in Telecom Italia.
According to the report, AT&T’s Rick Moore, managing director for corporate development says the carrier will consider Italian industrial and financial partners as it tries to get a stronger foothold in the country.
The two other companies that are also in talks with Olimpia are Italy’s Pirelli and Mexico’s America Movil.
Despite AT&T’s seat at the table, it’s already fighting a PR war in Italy where politicians and others are debating over the risks of putting the countries fixed telecom network in the hands of a non-Italian company.
Late last year, according to a story in Forbes, the Italian government was criticized by the European Union for its protectionist stance after its behavior when a Spanish company tried to take over an Italian highway operator.
