Blasting apart the low-key approach by Olivetti’s public relations arm, Carlo de Benedetti yesterday confirmed that Olivetti is discussing a three-way telecommunications joint venture with AT&T Co and the state-owned STET SpA telecommunications holding company. The Italian press has been full of gossip on the topic for weeks (CI No 893): the Olivetti chairman, in an interview with Italian daily Il Sole-24 Ore also confirmed that cross-shareholdings were included in the discussions. De Benedetti also said that he was ready to negotiate with the group controlling Socie’te’ Ge’ne’rale de Belgique, declaring that the consortium was certain to break apart.
DE BENEDETTI CONFIRMS AT&T-STET-OLIVETTI TALKS
