Reuters: Technology News: Telecom Italia shares extend losses amid capital hike talk

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Telecom Italia shares extend losses amid capital hike talk Oct 25th 2013, 12:36 Tweet Share this Email Print Reprints A Telecom Italia phone booth is pictured in front of St Peter's Basilica in Rome September 24, 2013. Credit: Reuters/Alessandro Bianchi MILAN | Fri Oct 25, 2013 8:36am EDT MILAN (Reuters) - Shares in Telecom Italia accelerated losses on Friday afternoon after a report said the debt-laden company might propose a rights issue for up to 2 billion euros ($2.8 billion). "The stock is extending losses on the report," a trader said. "If they have to do a capital hike, 2 billion euros is a bit on the small side and would not guarantee they might have to launch another one." Bloomberg reported on Friday that Telecom Italia was considering a plan to raise 1.5-2 billion euros from existing shareholders including Spain's Telefonica. Telecom Italia was not immediately reachable for comment. (Reporting by Stefano Rebaudo, editing by Danilo Masoni) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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