Wednesday, March 04, 2009

Refinancing - Telecom Italia OK

Telecom Italia CEO says debt is no problem

Italy's largest telecoms operator Telecom Italia (TLIT.MI) is not facing any difficulties in managing its debt burden, Chief Executive Franco Bernabe said in an interview with the Financial Times published on Wednesday.

"We have no problem whatsoever in funding our debt," Bernabe said, adding that "a strong decline in costs" had improved the firm's position.

Bernabe said the company did not need a capital injection from Libya's sovereign wealth fund or other investors, as has been speculated, the newspaper reported.

"Our stock is traded in the market and if they (Libya), like everybody else, want to buy a stake they can buy it there," Bernabe said.

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