Telecom Italia shares slide on single network speculation

MILAN: Shares in Telecom Italia (TIM) fell more than 9% on Thursday after a report suggesting the government is set to drop a plan to create a single broadband network.

In a plan submitted to the European Commission, Italy refers to “broadband networks”, plural, suggesting that the single network plan has been set aside, daily La Repubblica reported on Wednesday.

Both the Italian government and TIM declined to comment.