Communication / ICT in Italy
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ARGENTINA, 2013/11/10
Telecom Italia (NYSE: TI) has confirmed that it will dispose of its Argentine unit Telecom Argentina (NYSE: TEO) in a conference call with investors.
The company's board has received an unsolicited offer for Telecom Argentina and is negotiating the terms of a transaction, Telecom Italia executives said, without revealing the potential price tag on the Argentina subsidiary.
The move is part of the heavily indebted Italian firm's 2014-16 strategic plan, which involves raising up to 4bn euros (US$5.37bn) in cash to focus on increase opportunities in the Italian and Brazilian markets.
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ITALY, 2012/12/08
Telecom Italia has rejected a €3bn ($3.9bn) investment offer from Egyptian tycoon Naguib Sawiris and will take extra time to consider the possible sale of a stake in its copper network.
The heavily indebted company said in a statement that its board had decided “not to proceed further” with regards to an expression of interest from Sawiris, who had proposed to invest capital to engineer a strategic turnaround.
