Davide Leone, the largest holder of Telecom Italia's (TIM) (TLIT.MI), opens new tab 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.
