CAPRI, Italy, Oct 2 (Reuters) - Telecom Italia Chief Executive Marco Patuano said on Thursday the group is not studying any capital increase, adding that the completion of a planned sale of its Italian mobile towers would not be completed this year as initially expected.
“We are not studying any capital increase, including issues dedicated to new investors,” Patuano told reporters at an event in Capri, Italy.
Asked about timing of the planned sale of its Italian mobile towers, Patuano said: “It’s an operation that will not be completed in 2014... we are working on two options.”
Sources close to the matter told Reuters in September Telecom Italia was considering a market listing of the Italian towers in 2015, instead of a straight sale.
The sale of the Italian towers is part of a 4 billion euros plan unveiled by Patuano last November aimed at cutting debt and accelerating investment in faster networks.
Patuano said the proceeds from the Italian towers sale would be used to fund investments in fiber. (Reporting by Alberto Sisto, writing by Danilo Masoni, editing by Francesca Landini)