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UPDATE 1-Telefonica"s chairman to meet Italian PM on Tuesday-source
http://currenteconomictrendsandnews.com/wp-content/uploads/2013/10/c2614__p-89EKCgBk8MZdE.gif
(Adds meeting between Italy PM and Telecom Italia CEO, context)
MADRID/ROME Oct 28 (Reuters) – The chairman of Telecom Italia’s key investor Telefonica is to meet with Italian prime minister Enrico Letta on Tuesday, a source with knowledge of the matter said.
Last month the Spanish company reached a deal to gradually take over Telco, the investment vehicle owned by Telefonica and Italian financial interests which controls Telecom Italia with a stake of just 22.4 percent.
Telefonica declined to comment on Cesar Alierta’s meeting with Letta, which comes a week before the board of Telecom Italia meets to approve new chief executive Marco Patuano’s business plan.
The Italian government, which could not be reached for comment, is also expected to introduce a lower threshold for obligatory takeover bids sometime soon, a move that could complicate Telefonica’s ambitions regarding Telecom Italia.
Earlier on Monday Letta met with Patuano, who told reporters afterwards that they had discussed the future of investments and jobs at his company.
The prospect of Telecom Italia falling under Telefonica’s control has angered some Italian politicians and trade unions concerned about issues of national security, job losses and the pace of investment.
Sources close to the matter said on Friday Telecom Italia is considering scrapping its 2013 dividend and starting a reorganisation of its Italian activities.
The heavily indebted group is also considering a rights issue and selling its Brazilian unit but its board is expected to take more time to decide on these options, the sources said. (Reporting by Carlos Ruano and Alberto Sisto; Writing by Tracy Rucinski and Danilo Masoni; Editing by Greg Mahlich)
ROME |
ROME (Reuters) – At least 36 people died after a coach plunged more than 15 meters (49 feet) off a viaduct in southern Italy on Sunday, a spokesman for the fire service said.
Eleven people were pulled out alive from the stricken coach and taken to hospital, some with serious injuries, the spokesman said.
Rescue operations are ongoing, he said.
The coach was carrying about 48 people back to Naples after visiting Telese Terme in the southern region of Campania, Italian daily La Repubblica reported.
“The situation is dramatic,” the spokesman for the fire service said, adding that several other vehicles were also involved in the accident.
(Reporting By Catherine Hornby; Editing by Alistair Lyon, Philip Barbara and Stacey Joyce)
Since Pope Benedict announced his resignation on Feb. 11, Italian newspapers have been full of rumors about conspiracies, secret reports and lobbies in the Vatican that they say pushed the pope to abdicate, including a rumor that involved a shadowy “gay lobby” within the Vatican though CNN Senior Vatican Analyst John Allen, also a correspondent with the National Catholic Reporter, cautioned that such unsourced speculation should be taken with a grain of salt.
While Allend said he doesn’t know for sure if such a network based on sexual orientation was investigated, he said “frankly, it would be a little surprising if they hadn’t” — given past scandals that have come to light.
He theorized that the Pope may have been worn down by the “cumulative impact of the various meltdowns over the last eight years,” in a piece he wrote on Friday. “It’s probably a stretch to draw a straight line between all of this and Benedict’s resignation,” he said. “For the most part, one has to take the Pope at his word: He’s stepping aside because he’s old and tired, not because of any particular crisis.”
A Vatican statement said “It is deplorable that, as we draw closer to the time of the beginning of the conclave … that there be a widespread distribution of often unverified, unverifiable or completely false news stories that cause serious damage to persons and institutions.”
The Italian reports have painted an unflattering picture of the Vatican’s central administration, known as the Curia, depicting it as being full of prelates more concerned with their careers than serving the Church or the pope.
Some Church officials, speaking privately, have said foreign cardinals coming to Rome to choose the next pope have been alarmed over reports of corruption and might be inclined to elect someone not connected with the Curia, which is predominantly Italian.
The Vatican statement said the Italian media reports were an attempt to influence the outcome of the conclave through negative public opinion much like states and kings tried to influence papal elections centuries ago.
The Pope has announced that he will step down on Feb. 28, becoming the first pontiff to abdicate in some six centuries.
The 85-year-old Benedict said his failing health no longer enabled him to run the 1.2-billion-member Roman Catholic Church as he would like.
In a separate statement, Father Federico Lombardi, the Vatican spokesman, said the reports were trying to “discredit the Church and its government” ahead of the conclave.
Italy’s Repubblica newspaper ran a series of unsourced stories this week about the alleged contents of a secret report prepared for the Pope by a commission of three cardinals who investigated the so-called Vatileaks scandal last year.
Paolo Gabriele, the Pope’s butler, was convicted of stealing personal papal documents and leaking them to the media. He was jailed and later pardoned by the Pope.
The documents alleged corruption in the Vatican and infighting over the running of its bank, which has been at the heart of a series of scandals in past decades.
On Friday the Vatican denied Italian media reports that Benedict’s decision to send a senior official to a new post in Latin America was linked to the secret report about leaked papal papers.
The Vatican said the transfer to Colombia of Monsignor Ettore Balestrero, an Italian who holds a post roughly equivalent to deputy foreign minister, was a promotion and had been decided weeks ago. Balestrero will be promoted to archbishop and made ambassador in Bogota.
Those reports said Balestrero was being sent away from the Vatican because he figured in the secret report.
On Saturday, as part of his last activities before his resignation in five days, Benedict ended a week-long Lenten spiritual retreat in the Vatican and held a farewell meeting with Italy’s president.
On Sunday he will hold his last Sunday blessing. He will hold his last general audience on Wednesday and meet with cardinals on Thursday morning before he resigns on Thursday.
He will first go to the papal summer retreat at Castel Gandolfo south of Rome and then move to a convent inside the Vatican in April after the building is renovated.
Reuters contributed to this report.
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