Murdoch prowling around Italy

Italian press reports suggest that Rupert Murdoch has held extensive talks with Telefonica of Spain about making some sort of move on Telecom Italia. Italy daily La Repubblica reports that Murdoch has spoken with Telefonica chairman Cesar Alierta.

The report says that Murdoch is contemplating "gradually stepping into the Italian telecoms market," and that the News Corp boss had met Alierta twice since October to discuss the scheme. Telefonica’s opinion is key because of its own holdings in Telecom Italia.