Telecom Italia Media, part of the Italian telecoms group, has bought internet portal Webfin from joint-venture partner and publisher De Agostini for less than half the price the two first discussed four years ago.

The two companies have scrapped over the price - agreed in September 2000 at €700m ($852m) - since the crash of the dotcom boom and consequent plummet in internet venture valuations.

Telecom Italia secures cut-price web deal

Caroline Meehan

Nick Clark

Telecom Italia

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