Hutchison Whampoa would want to control any company created by merging its 3 Italia mobile unit...

|By:, SA News Editor

Hutchison Whampoa would want to control any company created by merging its 3 Italia mobile unit with Telecom Italia's (TI) cellular operations. Hutchison would become TI's largest shareholder as part of the deal, possible causing the unravelling of the Telco consortium that holds 22.4% in the former monopoly. Telco includes Telefonica (TEF), Intesa Sanpaolo (IITOF.PK) and Mediobanca (MDIBF.PK). TI is also looking at spinning off its wireline operations. Shares +4.3% in Milan.