TI moves to media

Telecom Italia (TI) has released sketchy details of its plan to spin off its mobile businesses and move its focus towards broadband and media content. Following a board meeting yesterday, the telco announced that it is to separate its fixed line business from its wireless operations. Its domestic mobile arm TIM and its Brazilian subsidiary TIM Participacoes will then be sold off, according to reports from Dow Jones, although a separate report from AFX says that TI has not given any mandates for the sale of, or received any offers for, its Italian and Brazilian wireless units. TI has been in negotiations with News Corp over a deal which will see the telco distributing media content over its wireline networks at home and in other parts of Europe. The telco has still to finalise the exact financial structure of its newly separated businesses.