MILAN (Reuters) -The world’s largest asset manager BlackRock has raised its stake in Telecom Italia (TIM) to 5.1%, a regulatory document seen by Reuters showed on Friday. The document, dating the transaction to August 26, indicated that BlackRock previously held a 4.977% aggregate stake in the Italian phone group. Blackrock’s updated stake includes 3.585% of […]
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BlackRock has crossed 5% threshold in Telecom Italia, filing shows
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MILAN (Reuters) -The world’s largest asset manager BlackRock has raised its stake in Telecom Italia (TIM) to 5.1%, a regulatory document seen by Reuters showed on Friday.
The document, dating the transaction to August 26, indicated that BlackRock previously held a 4.977% aggregate stake in the Italian phone group.
Blackrock’s updated stake includes 3.585% of voting shares, 1.1% potential holdings and 0.414% of other long positions with cash settlement, the filing showed.
BlackRock declined to comment.
(Reporting by Elvira Pollina, editing by Alvise Armellini)