AT&T and Telecom Italia have consolidated their two-month old partnership with a stock swap worth 1.2 per cent of the Italian telco?s shares.
The Italian Treasury is also expected to sell its 44.7 per cent stake in Telecom Italia, which is worth Lire30 trillion ($17 billion).
In July AT&T and its Italian partner signed an agreement to offer services throughout Europe and Latin America. The Italian telco will distribute the services of Unisource, AT&T's European services alliance, throughout Europe while all parties will align their strategies to focus on key markets such as Germany, France, the UK and Spain.
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