Telecom Italia Chief Executive Franco Bernabe said Tuesday that the Italian telecommunications company doesn't have any kind of merger or acquisition plans on its agenda.

Bernabe said speculation about potential mergers is "totally groundless," adding that Telecom Italia's management is focusing on different priorities.

Recent unsourced reports in the press have suggested that Telecom Italia has been eyeing operations in both Africa and India.

When asked about the potential sale of Telecom Italia's transmission towers and the spin-off of the company's fixed-line network, Bernabe declined to comment.

Telecom Italia's board is meeting Thursday to discuss the guidelines of its new business plan.

Source:Dow Jones