Telecom Italia not considering capital increase to fund Brazil deal

Telecom Italia (TI) has denied a press report that it is considering a new share sale to help fund an acquisition in Brazil. According to Reuters, the telco’s board will meet this week to discuss options for its TIM Brasil subsidiary, with a tie-up with rival operator Oi on the cards. Responding to a story in Italian newspaper Il Messaggero, however, TI has issued a statement saying: ‘Regarding news published by the daily press over the last few days, Telecom Italia stresses it is not studying any capital increases.’