Luca De Biase
An Italian journalist writes about what's happening in his funny country:
a laboratory for the study of broken democracy and creative capitalism.
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Venerdì, 3 dicembre 2004

Italian finance is always thrilling

ROME - Marco Tronchetti Provera, who owns a little bit of a company that has a lot of another company that owns a bit of chain that has 17 per cent of Telecom Italia, thus controls the very indebted major Italian telecommunications group, is merging Telecom Italia and Tim, the very rich mobile business subsidiary. It will be just fine if minority shareholders in Tim will be taken into account during the operations. But the truth is: Olimpia, the company that has that 17 per cent of Telecom Italia, has registered those shares at euro 5.2 in its books. Today, after a rally, they were at euro 2.9. How will Olimpia get back its money? How hurried is everybody to get back that money? Why the merger is decided now? How will rating agencies react?

--- please visit my Italian site at: ---
6:58:33 PM    comment [];

Retailers' leader asks for a retail prices reduction...

ROME - Real prices are growing more than official inflation, in Italy. Everybody thinks so. But there are no statistics about that. Just some qualitative news. One that is very telling: Sergio Billè, president of Confcommercio, the retailers association, has asked his associates to reduce prices if they don't want to see an important reduction in sales... Italy is strange, isn't it?

--- please visit my Italian site at: ---
1:08:34 PM    comment [];

POST - Motorola is now third in the mobile phone market... Asia is growing fast...

Motorola Slips. Samsung steps around Motorola in the mobile phone market. [The Motley Fool]
12:54:43 PM    comment [];

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