Telecom Italia's Patuano: Never been asked to sell Brazil unit

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

After reports emerging from a key strategy meeting with Vivendi (OTCPK:VIVHY -0.4%) last week, Telecom Italia (TI -3.6%) chief Marco Patuano says he's never been asked to sell the company's Brazilian business.

"Vivendi wants to sell Brazil" -- TIM Participaçoes (TSU -1.5%), the company's Brazilian unit -- "and Patuano does not," a source told Reuters last week.

Speaking to Il Soe 24 Ore, Patuano says he never received a request and he continued to believe in the Brazilian operation despite that country's recession.

On the implosion of a possible merger with Oi, Patuano said the company's stance on roles was far from that of LetterOne's Mikhail Fridman, trying to make a deal happen. TI expected to be the "industrial leader" of a merged group.

As for tensions with Vivendi, which has assembled a large stake in the telecom and might replace him, Patuano says "Managers always respond with their performance and shareholders are always sovereign."

Previously: Reuters: Telecom Italia pursuing Metroweb network deal within weeks (Mar. 04 2016)

Previously: Vivendi, Telecom Italia chief on tense course over strategy alignment (Mar. 04 2016)

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