Telecoms Italia shares plunge on share issue, dividend fears

MILAN (Reuters) - Shares in Telecom Italia fell by more than 7 percent on Friday on fears that the board of the heavily indebted group is set to decide to sell more shares and cancel the dividend, traders and investors said. Telecom Italia is battling to cut almost 29 billion euros ($40 billion) of net debt as its business feels the pinch of Italy's deep recession, harsh competition and slowing growth in Brazil, its second-largest market. ...



via Tech News Headlines - Yahoo! News http://news.yahoo.com/telecoms-italia-shares-plunge-share-issue-dividend-fears-125835989--sector.html