A PYMNTS Company

Italy/Brazil: Telecom Italia aims to divest Brazilian stake for $12B

By  |  October 10, 2013

Telecom Italia has reportedly valued its stake in Brazilian wireless carrier Tim Participacoes at about $12 billion, according to an unnamed source, as the Italian company looks to sell off its 67 percent control of Tim.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    As deliberations about a sale continue, the rumored value of Telecom Italia’s puts a total worth of about $18 billion on the Brazilian company.

    The Italian company is planning a board meeting next month, which will likely include discussions about the Brazilian operation as well as other assets throughout Latin America including Argentina.

    The news comes as Moody’s Investors Service cut Telecom Italia’s rating earlier this week, stripping the company of its investment-grade rating.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.