Fiat SpA plans to invest as much as 9 billion euros ($12.3 billion) on new models to end European losses in three years and revive nearly empty Italian factories, two people familiar with the matter said.
Telecom Italia SpA, responding to a market regulator’s questions, said it prioritized BlackRock Inc, Telefonica SA and Och-Ziff Capital Management Group LLC in its mandatory convertible bond sale last month.
The process of making bronze bells hasn’t altered much in 1,000 years at the Pontifical Marinelli Foundry. What’s changing is where they chime, as Italy’s oldest family business looks abroad to dodge the economy at home.
Telecom Italia SpA unveiled plans to sell its Argentine business, assets including wireless towers in Italy and Brazil, and a mandatory convertible bond to raise a total of about 4 billion euros ($5.4 billion) to help pare debt.
Ever since Sergio Marchionne snuck in to see the “The Graduate” as an underage teen in the 1960s, he’s had a soft spot for Alfa Romeo, the maker of the Spider Duetto convertible Dustin Hoffman’s character drove in the film.
As Telecom Italia SpA Chief Executive Officer Marco Patuano tries to persuade his board today to sign off on a plan to trim the company’s $39 billion debt pile, he’ll be juggling the disparate wishes of bondholders and stakeholders.
Telecom Italia SpA Chief Operating Officer Marco Patuano will take over responsibilities left behind by Chief Executive Officer Franco Bernabe, who stepped down after clashing with shareholders over strategic directions at Italy’s biggest phone company.