March 21, 2019 / 9:54 AM / a year ago

TIM would consider TIM Brasil sale only with very good offer-source

LONDON, March 21 (Reuters) - Italian telecoms operator Telecom Italia (TIM) would sell its stake in TIM Partecipacoes to reduce its debt only if it received a very good offer for its in Brazilian unit, a source close the situation said on Thursday.

The source added TIM Brasil was an integral part of TIM’s latest business plan.

According to Italian newspaper Il Messaggero, TIM CEO Luigi Gubitosi told investors at meetings organised by Citi in Paris this week that selling TIM Brasil or reducing TIM’s stake in masts unit INWIT were both possible options to reduce the group’s large debt burden. (Reporting by Elvira Pollina, Writing by Alessia Pe, editing by Valentina Za)

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