Telecom Italia finalises Brasil Telecom sale

6 Dec 2007

Telecom Italia (TI) has finalised the sale of its indirect stake in Brasil Telecom (BrT) to Techold Participacoes for USD515 million. The deal, which was agreed in principle in July 2007, sees TI disposing of its 38% stake in Solpart, a holding company owning 51% of BrT. TI said that the sale will generate a EUR190 million (USD280 million) capital gain and help cut net debt by about EUR350 million.

Brazil, Brasil Telecom (BrT), Telecom Italia (TIM)