Milan

TI in fresh surge on H3G merger talks

Company confirms interest in Hutchison Whampoa Italian unit

TI in fresh surge on H3G merger talks

Milan, April 5 - Telecom Italia shares recovered by 2.9% Friday after confirmation Italy's biggest telecoms company was talking to Hutchison Whampoa to take over H3G, the Hong Kong conglomerate's Italian mobile business. Earlier TI stock fell 2% as rumours subsided. On Thursday Telecom shares surged as much as 8% amid reports its board may evaluate the merger at its upcoming April 11 meeting. Trading was heavy Friday with more than 50 million shares changing hands in an hour against a recent daily average of 100 million.

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