US telco Bell Atlantic is to shell out $163 million to become the largest shareholder in Omnitel Pronto Italia, Italy's second mobile operator.
Bell Atlantic will purchase an additional 2.26 per cent, taking its holding up to 19.7 per cent.
The new shares were purchased from Telia, which has sold the remainder of its 6.77 per cent stake in Omnitel to Oliman, an Olivetti-Mannesmann joint venture.
Bell's share increase follows the disposal of its 33 per cent stake in Infostrada, its former fixed wire telecomms venture with Olivetti, in December.
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