Telecom Italia considers plan to sell 2 bln euros in assets

Thursday, Jul 18, 2019

Italy's largest phone company, Telecom Italia, is considering a plan to sell assets worth around 2 billion euros ($2.2 billion), including a stake in its separately listed INWIT towers unit, La Repubblica daily said on Wednesday.

Telecom Italia (TIM), which controls 60% of INWIT, agreed with Vodafone in February to study the idea of combining their 22,000 telecom masts in Italy in a single unit.

The INWIT deal merger would involve TIM selling a small stake and also a major refinancing operation that would help TIM to draw a special dividend as well, la Repubblica said.

Beyond INWIT, TIM is also looking at selling its data-centre and consumer credit operations, the daily said, adding that the overall plan could be put to the TIM board on Aug. 1. The disposals should be completed by early 2020, it said.



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