Sawiris Confirms Interest In Telecom Italia, €5 Bln Bid News ‘Inaccurate’

Naguib Sawiris is interested in Telecom Italia, his spokeswoman said on Monday, adding that a report the Egyptian businessman had offered to invest up to 5 billion euros ($6.4 billion) was inaccurate.

“He confirmed the content of the report that he actually expressed an interest,” she told Reuters. But she said he described a report that he would invest up to 5 billion euros as “inaccurate and excessive”.