MILAN, Italy (AP) _ Telecom Italia said Friday that it is in advanced talks on creating a Spanish telecommunications holding company with Spanish utilities Union Fenosa and Endesa.

The new company would control the three companies' telecom, TV broadcast and Internet-related interests, according to an article published Friday in Italian newspaper Il Sole 24 Ore.

Telecom Italia issued a statement confirming the talks, but company officials declined further comment.

The three companies each hold stakes in Spanish fixed-phone service provider Retevision as well as in mobile phone company Amena.

Endesa and Telecom Italia would each take a stake of between 25 percent and 30 percent in the new venture, while Union Fenosa would take between 15 percent and 16 percent, Il Sole reported. It wasn't clear who would own the rest.

The three companies have been talking since last year. Negotiations intensified after the successful initial public offering of Terra Networks, the internet arm of Spanish telecom company Telefonica, the newspaper said.