Telecom Italia (TI +5.9%) jumps as hopes of an Italian mobile merger with Hutchinson Whampoa...

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

Telecom Italia (TI +5.9%) jumps as hopes of an Italian mobile merger with Hutchinson Whampoa grow. A Telecom Italia board meeting to discuss a possible merger took place today, and Hutchinson has stated it's willing to support a deal if it can obtain the largest stake in TI. That would mean a bigger stake than the 22.4% jointly held by Telefonica (TEF +0.4%) and three Italian banks. Hutchinson has reportedly been eying a ~30% stake, and Telefonica is reportedly willing to unload its position in TI. Regulatory and/or political opposition could still scuttle a deal.