TI linked with mobile spin-off by ‘senior political source’

23 May 2013

According to Reuters, Telecom Italia (TI) is mulling spinning off its mobile unit along with its fixed line network, in a bid to bring new investors on board. A senior political source told the news agency: ‘The three-way split would allow the company to reduce debt and staff costs and favour the entry of new investors. It is a strategy that will allow the company to confront the market in the future more freely’. However, TI moved quickly to deny that a break-up was under consideration, emailing Reuters to say: ‘Telecom Italia points out that speculations about a possible break-up are groundless’.