Hinduja brothers looking at TI - Reports

The Indian conglomerate Hinduja, is, according to reports, looking to buy a stake in Telecom Italia (TI).

The UK’s Financial Times newspaper says the group – controlled by two of the world’s best known businessmen, Srichand and Gopichand Hinduja – is not involved in direct discussions with TI’s largest stakeholder, Pirelli, but that it has had “consultations” and is “studying the viability of a deal”.

Hinduja will not comment on the reports.

The Indian firm’s interest in Italy’s incumbent is part of a trend. Several companies are known to have been looking at TI, including private equity group, Blackstone.

In September last year, chairman of the banking foundations’ association in Italy, Giuseppe Guzzetti, said Italian banking foundations were ready to invest in Telecom Italia, “but of course only if the operation offers adequate yields.”