Regulator refuses to suspend Olivetti bid for Telecom Italia

The Italian stock market regulator said yesterday there were no grounds to suspend Olivetti's $65 billion (€61 billion) bid for…

The Italian stock market regulator said yesterday there were no grounds to suspend Olivetti's $65 billion (€61 billion) bid for Telecom Italia.

A senior financial source familiar with Olivetti's offer said earlier that the group appeared set to win between 42 and 47 per cent shareholder acceptance for its bid. The offer ends at 3 p m. GMT today.