Speculation is mounting that Telecom Italia (TI) is preparing to sell off its cellular subsidiary Telecom Italia Mobile (TIM) in a move which could raise more than EUR35 billion. Rumours suggest that TI is looking at dividing its operations into three entities – fixed, mobile and media – before spinning off the cellular arm. The firm has issued a statement saying that its board is meeting today to discuss the reorganisation of its fixed and mobile assets. Sales of its shares will be suspended as a result. It was only two years ago that TI went through a process of reintegrating TIM into the group in a move designed to increase synergies. A number of equity groups have been linked with a buyout of TIM, including Carlyle, Apax, Permira and Texas Pacific.