March 28, 2017 / 8:03 AM / a year ago

Rothschild working with Telecom Italia to find broadband partner - sources

MILAN, March 28 (Reuters) - Rothschild is working with Telecom Italia to find a partner to help fund part of the Italian phone group’s broadband business in Italy, three sources said on Tuesday.

Last Thursday Telecom Italia said it would set up a new company to roll out its ultrafast broadband network in non-economically viable areas of Italy. It said it intended to choose a financial partner as majority shareholder in the coming months.

Rothschild has no official mandate, one of the sources said.

Financial daily Il Sole 24 Ore said on Tuesday adviser Rothschild had identified around 20 players interested in investing in the unit.

“Teasers were sent out last week,” another person familiar with the matter said, adding the aim was to find a partner in coming weeks. (Reporting by Stephen Jewkes and Agnieszka Flak)

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