Bloomberg: Telefonica reaches deal to up Telecom Italia stake

|About: Telecom Italia S.P.A. (TI)|By:, SA News Editor

Telecom Italia (TI) +4.9% AH on the news. Shares rose 3.2% in regular trading thanks to reports Telefonica (TEF) is in talks to obtain a larger stake in, if not full ownership of, holding company Telco (owns a 22.4% stake in TI).