MILAN, Dec 22 (Reuters) - Davide Leone, the largest holder of Telecom Italia's (TIM) savings shares, on Monday welcomed the terms of a proposed conversion of this special type of shares into ordinary
Telecom Italia's Share Conversion Terms Welcomed by Major Holder
MILAN, Dec 22 (Reuters) - Davide Leone, the largest holder of Telecom Italia's (TIM) savings shares, on Monday welcomed the terms of a proposed conversion of this special type of shares into ordinary stock.
"We acknowledge TIM demonstrated a market-friendly approach to the conversion of saving shares," Leone said in a statement.
"We expect the transaction to be successful," he added.
Leone, who runs a London-based investment firm, holds around 13% of TIM's outstanding savings shares.
(Reporting by Valentina Za, editing by Giulia Segreti)
