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Telecom Italia ‘considers network spin-off’
05 April 2012
Telecom Italia chairman tells newspaper that company is considering raising €4bn from spinning off access network
Franco Bernabè, executive chairman of Telecom Italia, is considering spinning off the company’s access network, in a move that could raise at least €4 billion.
Bernabè, who is also chairman of the GSM Association, told Italian daily Il Sole 24 Ore: “It is one of several studies we conduct to identify the best solutions to increase Telecom's value. The study, which at present only illustrates possible ideas, shows we are open to consider every hypothesis as long as it adds value.”
The newspaper quoted a document which identifies selling off the network as one of the options. Bernabè indicated that Italian state-controlled bank Cassa Depositi e Prestiti could be part of the project.
Telecom Italia — in which Spanish operator Telefónica has a significant stake — posted €4.7 billion in net loss for 2011. GTB
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