Plans by Olivetti, the Italian telecoms company, to raise €17bn ($15bn) in debt and equity financing has failed to mollify analysts, who repeated their calls for Enrico Bondi, new chief executive, to come clean about his group's strategy.
One fixed income credit analyst at a European investment bank said: "They've come out with this announcement, but people are already asking what they are going to do with this money. It does beg the question: what is their strategy?"
