Telecom Italia May Sell Mobile Phone Division

2:02 am on September 13, 2006 | Category: Business, Corporate, Telecom Services

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Spain’s incumbent telephone carrier, Telefonica SA and the Carlyle private equity fund have expressed interest in acquiring Telecom Italia’s wireless unit, TIM, according to a popular Italian newspaper.

Over the past few days, Telecom Italia executives have been discussing reorganization measures for the company, which could reportedly include the sale of TIM and its Brazilian counterpart, TIM Brazil.

TIM is currently valued at approximately €35 billion, while TIM Brazil has an estimated value of between €6 and €7 billion.

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    Edited by Jeremy Maddock