Italy govt official denies plans for 100% bid for Telecom Italia

MILAN (Reuters) – Italy’s cabinet undersecretary Alessio Butti said on Wednesday that the government has no plans to launch a 100% bid on Telecom Italia (TIM).

“A take over bid for the whole of TIM is fantasy”, Butti said at business event in Rome.

Asked for clarification, Butti reiterated that the government’s goal is securing public control of TIM’s fixed line network, adding that it still needs to define how to do it.

(This copy has been corrected to fix the headline to clarify Butti is not a minister)

(Reporting by Giuseppe Fonte, writing by Elvira Pollina, editing by Alvise Armellini)