Milan-based Telecom Italia's shares fell by 6.5% after Il Messaggero reported a capital increase that the company will suppose to tackle during its board meeting scheduled August 1.
Telecom Italia announced that it had ended contacts with Hong Kong based Hutchison and directed its focus to spin off its fixed network and make it an independent company.
Telecom Italia put a hold on its planned merger with Hutchison Whampoa due to disagreements over valuation.
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