Orange is not in talks with Telecom Italia (TI) but hired investment banks to advise on a European strategy, according to media reports.
Among the options are a potential tie-up with Telecom Italia, according to a Bloomberg report. However, the company later said no talks had actually taken place with the Italian incumbent. Likewise, TI’s CEO Marco Patuano denied discussions had occurred earlier this week.
“Orange’s financial and strategic management team is working with banks to finetune its view of the evolution of the telecoms sector in the context of a single market on a 5- to 10-year horizon,” an Orange spokesman told Reuters.
by Richard Handford
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