French telecoms group Orange said on Monday it was not in talks with Italian peer Telecom Italia but had hired advisory banks to finetune its assessment of the European telecoms sector.
"Orange's financial and strategic management team is working with banks to finetune its view of the evolution of the telecoms sector in the context of a single market on a 5- to 10-year horizon," a spokesman told Reuters.
"As far as Orange is concerned, no target has been identified today and no discussion has been opened with Telecom Italia," he said.
Orange was responding to a request for comment about a Bloomberg report saying the French group was considering a potential tie-up with Telecom Italia.
Telecom Italia said earlier on Monday it had had no contacts with Orange.