The privatisation of Telecom Italia has had uncertain results and has not been ?effective in finding a new efficient market structure?, claims Giuseppe Tesauro, president of the Italian antitrust authority.
Speaking as the authority reached its first birthday, Tesauro noted that the potential benefits of selling the Italian national carrier as two separate companies - Telecom Italia itself and its cellular arm Telecom Italia Mobile - were not properly analysed.
He also claimed that, although Telecom Italia has been a public company for three years, the still strong role of the Treasury ?does not guarantee a safe environment to potential investors?. He broadened his criticisms to the deregulation process as a whole, claiming this has taken too long to conform to EC guidelines for the free telecomms market.
There were mixed reactions to Tesauro?s comments. Antonio Maccanico, head of the telecommunications ministry, said that ?the report is very stimulating, but it was not possible to operate in a different way?.
Gian Marco Rossignolo, Telecom Italia president, did not comment at all.
But the critics were backed by Carlo de Benedetti, former Olivetti president, and Fedele Confalonieri, president of Mediaset and a member of the Picienne consortium, which is bidding - along with Telon and Wind - for a mobile licence. Both felt deregulation had come too slowly and the market still failed to offer a level playing field.
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