Banks study possible Telecom Italia, 3 Italia merger
Goldman Sachs and Merrill Lynch are studying a possible merger between Italy's larger telecommunications operator Telecom Italia SpA and Hutchison Whampoa Ltd's Italian unit 3 Italia, Italian daily Il Corriere della Sera reports Wednesday without citing its sources.
The two banks have no official mandate but are evaluating possible synergies between the two telecoms operators, the paper said. Hutchison Whampoa's chairman, Hong Kong tycoon Li Ka-shing, hasn't made a decision yet on selling its Italian mobile operator 3 Italia, the report added.
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