Telecom Italia could reportedly sell assets worth approximately €2 billion, including a stake in tower unit Inwit, its data centre and credit operations.
Italian newspaper La Repubblica reported the operator is considering asset sales, as CEO Luigi Gubitosi looks at ways to revive the group following recent struggles.
A €2 billion injection could also help with a current debt load which stands at €25 billion.
Telecom Italia, which owns a 60 per cent stake in Inwit, struck a deal this year with Vodafone Italy to merge tower assets, a move which will help to reduce 5G costs for both operators.
However, a stake sale is still very much on the table, the newspaper stated. It is unclear whether Vodafone Italy would remain interested in making an investment in Inwit if it was put up for sale by Telecom Italia.
Also on the block was reported to be the company’s data centre unit and its consumer credit operations.
The plan could be put to the company’s board on 1 August and the sell-off could be completed by early 2020, the report added.Subscribe to our daily newsletter Back