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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.

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

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