Milan

Telecom Italia stock falls to lowest level in 16 years

Uncertainty over plans to spin off its landline network

Telecom Italia stock falls to lowest level in 16 years

Milan, July 16 - Stock in Italy's telecommunications blue-chip Telecom Italia slid to it lowest value since July 1997 on Tuesday over uncertainty about plans to spin off its landline network. Stock fell 2.3% to 0.49 euro after its board on Monday decided to suspend the operation until the regulatory environment improves. The group reported on July 11 an unfavourable filing made by the Italian regulator AGCOM regarding wholesale access to local copper wire network. Telecom Italia's entire market capitalization was 6.44 billion euros on Tuesday.

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