A Giant Falls In Euroland
Telecom Italia is seven times the size of Olivetti, yet Colaninno had the brio to barge in with a hostile v60.4 billion bid, which will be partly financed with the biggest bond issue in history. During the takeover attempt, it looked like TI might find a white knight in the form of Deutsche Telekom, but regulatory and political hurdles got in the way. Italian shareholders weren’t pleased that the German government balked at reducing its 70 percent stake in DT....