The rumour mill has been working overtime when it comes to Telecom Italia. The Italian incumbent is set to unveil its new 2009-2011 business plan on 2 December and speculation is rife as to which operators and countries it may have in its sights as possible acquisition targets, as well as possible new investors, or unit spin-offs. The company had denied all suggestions until yesterday when it confirmed it has received recent expressions of interest to invest in the group’s capital. Reports suggest a Libyan sovereign wealth fund is ready to buy a stake in Telco, the holding company that took control of Telecom Italia in April 2007. A company spokesperson said, ‘None of these indications of interest has been solicited by the company and no concrete proposal has been made’.